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
Police rescue 14 passengers from bandits in Jibia
The police operatives in Katsina State have successfully rescued 14 passengers from kidnapping by bandits in Dan’arau village, in Magama-Jibia, Jibia local government area.
The police spokesperson of the command, ASP Abubakar Aliyu, who stated this in a statement, said that the incident occurred on Sunday at about 7:55 p.m.
Aliyu explained that suspected armed bandits attacked two commercial vehicles on the road with the intent of abducting the occupants.
“On Nov. 24, 2024, at about 7:55 p.m., suspected armed bandits, armed with dangerous weapons, shooting sporadically, attacked two commercial vehicles at Dan’arau village on Magama-Jibia road in Jibia, in an attempt to kidnap the occupants.
“Upon receipt of the information, the Divisional Police Officer (DPO) of Jibia, led a team of operatives to the scene and engaged the bandits in a fierce gun duel.
“The team successfully foiled the kidnapping attempt, and rescued the 14 passengers,” he said.
Aliyu, however, said two rescued victims suffered gunshot injuries and were rushed to the hospital for immediate medical attention.
“Unfortunately, one of the victim succumbed to his injuries while receiving treatment,” Aliyu revealed.
He said that efforts were ongoing to apprehend the fleeing suspects as the investigation proceeds.
The state Commissioner of Police, CP Aliyu Abubakar-Musa, while commending the officers’ exceptional display of gallantry and dedication to duty, charged them to sustain the tempo.
He further urged the public with useful information on suspected criminal activities to continue to
Aviation
NAF airstrikes destroy terrorist food depot, kill scores in Lake Chad
This is contained in a statement by the Director, Public Relations and Information, Nigerian Air Force (NAF), Air Commodore Olusola Akinboyewa, on Monday in Abuja.
Akinboyewa said the NAF aircraft carried out the operations in Nov. 23 on the strategic location, identified through meticulous intelligence efforts.
He said the location served as a critical food storage site and a sanctuary for terrorist commanders and fighters.
He added that intelligence had previously linked terrorists in the location to recent attacks, including the assault on troops in Kareto on Nov. 16.
According to him, the NAF fighter jets, in response, launched a robust air interdiction mission, destroying identified structures used as storage facilities and neutralising terrorists on-site.
“Mop-up operations using cannons ensured the complete elimination of fleeing hostile elements.
“The operation’s success was made possible by extensive Intelligence, Surveillance, and Reconnaissance (ISR) missions conducted over several days, confirming the presence of active terrorist structures camouflaged under dense vegetation.
“The destruction of the terrorist enclave, including food storage facilities, severely disrupted their logistical operations, while the neutralisation of a significant number of fighters diminished their capacity to launch future attacks,” he said.
Akinboyewa said the mission had demonstrated the NAF’s unwavering commitment to defending our nation and people, acting singly and supporting surface forces in counterterrorism operations.
He reiterated the NAF’s commitment to sustain robust independent and joint operations until all enemies of Nigeria’s prosperity and wellbeing are brought to justice.
Africa
Customs hands over illicit drugs worth N117.59m to NDLEA
The Nigeria Customs Service (NCS), Ogun Area 1 Command, has handed over illicit drugs worth N117.59 million to the National Drug Law Enforcement Agency (NDLEA).
The Comptroller of the command, Mr James Ojo, disclosed this during the handing over of the drugs to Mr Olusegun Adeyeye, the Commander of NDLEA, Idiroko Special Area Command, in Abeokuta, Ogun, on Friday.
Ojo said the customs handed over the seized cannabis and tramadol tablets to the Idiroko Special Command for further investigation in line with the standard operating procedures and inter-agency collaboration.
He said the illicit drugs were seized in various strategic locations between January and November 21, 2024, in Ogun State.
He added that the illicit drugs were abandoned at various locations, including the Abeokuta axis, the Agbawo/Igankoto area of Yewa North Local Government Area, and Imeko Afton axis.
Ojo said that the seizure of the cannabis sativa and tramaling tablets, another brand of tramadol, was made possible through credible intelligence and strategic operations of the customs personnel.
“The successful interception of these dangerous substances would not have been possible without the robust collaboration and support from our intelligence units, local informants and sister agencies.
“These landmark operations are testament to the unwavering dedication of the NCS to safeguard the health and well-being of our citizens and uphold the rule of law,” he said.
He said the seizures comprised 403 sacks and 6,504 parcels, weighing 7,217.7 kg and 362 packs of tramaling tablets of 225mg each, with a total Duty Paid Value of N117,587,405,00.
He described the height of illicit drugs smuggling in the recent time as worrisome.
This, he said, underscores the severity of drug trafficking within the borders.
“Between Oct. 13 and Nov. 12 alone, operatives intercepted a total of 1,373 parcels of cannabis sativa, weighing 1,337kg and 362 packs of tramaling tablets of 225mg each,” he said.
Ojo said the seizures had disrupted the supply chain of illicit drugs, thereby mitigating the risks those substances posed to the youth, families and communities.
He lauded the synergy between its command, security agencies and other stakeholders that led to the remarkable achievements.
Ojo also commended the Comptroller General of NCS for creating an enabling environment for the command to achieve the success.
Responding, Adeyeye, applauded the customs for achieving the feat.
Adeyeye pledged to continue to collaborate with the customs to fight against illicit trade and drug trafficking in the state.
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