News
NBET to deploy automated energy trading platform for power sector

The Nigerian Bulk Electricity Trading (NBET) says it plans to deploy an automated energy trading platform/exchange to promote bilateral trading between Independent Power Plants (IPPS) and commercial/industrial customers in 2023.
The Managing Director of NBET, Mr Nnaemeka Ewelukwa, disclosed this in a document titled, ‘Actualising Enhanced Electricity Supply and Commercial/Industrial Decarbonisation in Nigeria,’ made available to newsmen in Abuja.
Ewelukwa said that the platform would have multiple energy brokers playing key roles in linking energy suppliers and customers registered.
According to him, the IPPS wishing to sell power can register on the platform and immediately have access to a comprehensive database of commercial/industrial customers across the country, and their energy requirements.
He listed those that would be involved in the platform to include: Commercial and industrial customers and industrial clusters; generation plants; transmission and distribution networks.
Others are Gas pipeline networks; energy locations, including solar irradiation, wind and mini-hydro potentials.
“The platform will efficiently link sufficient numbers of buyers and sellers thus facilitating price discovery.
“With price discovery, energy buyers and sellers have the assurance that they are purchasing these commodities at fair prices in a reliable marketplace.
“It will also ultimately enhance the overall visibility of tariffs, capacity availability, costs and prices along the energy value chain, which will aid buyers and sellers in undertaking transactions,” he said.
Ewelukwa said that the platform would facilitate private investments in the transmission/distribution network in order to fully bridge the infrastructure gap between electricity demand and supply.
According to him, it will also reduce the technical, commercial and collection losses in the system.
He said that the platform would also promote business partnerships involving customers, IPPs, the Transmission Company of Nigeria and the Distribution Companies.
Ewelukwa also said that a comprehensive interactive map would be developed by NBET, which will show the geo-locations of the facilities within Nigeria and the ECOWAS sub-region.
He said that the interactive map would facilitate transaction structuring by willing buyers and sellers, and network investment coordination.
It would also guide investment decision-making, and facilitate greater policy planning and efficient resource planning.
Ewelukwa said that the Securities and Exchange Commission, Nigerian Electricity Regulatory Commission (NERC), as well as the Nigerian Midstream and Downstream Petroleum Regulatory Authority were being engaged by NBET.
“The Federal Ministries of Power; Finance, Budget and National Planning; Industry, Trade and Investment; as well as the media and Civil Societies Organisations (CSOs) were being engaged
“NBET was interfacing the Manufacturers Association of Nigeria (MAN), Nigeria Employers Consultative Association Chambers of Commerce, Industry, Mines, and Agriculture, Nigeria Association of Small Scale Industrialists; and Nigeria Association of Small and Medium Enterprises,” he said..
The managing director said that the administration of the Power Purchase Agreements (PPAs) and vesting contracts by the agency had resulted in electricity payments worth N5 trillion from February 2015 to date.
According to him, the Azura Power Plant in Edo, the first financed power project in Nigeria, heralded an investment of close to 1 billion dollars.
Ewelukwa also said that NBET had executed PPAs with 14 solar Independent Power Projects (IPPs) for one gigawatt (1GW) of electricity.
He said that acting as the anchor for the Federal Government of Nigeria-World Bank Power Sector Recovery Programme (PSRP), NBET made the World Bank make available $750 million for the Power Sector Recovery Operations (PSRO) loan.
He said that the agency was instrumental to FGN’s budgetary appropriation in addressing tariff shortfalls in the electricity market.
Ewelukwa listed other milestones achieved by NBET including the facilitation of the privatisation of generation companies (GenCos) through PPAs with core investors.
“Others are the 2.5 billion dollar privatisation of GenCos and DisCos (2013). Facilitation of Afam Power Plc and Afam the three Fast Power limited (N105.3 billion; 343.6 million billion
“The successful and transparent management of the N1.3 trillion payment assurance facility that aided a 30 per cent increase in the highest peak generation ever attained.
“From 4500MW (February 2015) to 5,800MW (March 2021), due to capacity recovery by generation companies,” he said.
(NAN)
NBET to deploy automated energy trading platform for power sector
Headlines
China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).
The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.
Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.
The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.
Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.
Headlines
Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.
Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.
“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”
He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.
Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.
In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”
He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.
Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.
Headlines
Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.
Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.
“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”
The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.
Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.
“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.
The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.
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