Federal Government to fund NBET with N152 billion in 2021

The federal government is set to spend additional N152.416 billion in funding the Nigerian Bulk Electricity Trading Plc in 2021. This was stated in the 2021 capital budget ceilings in the Pre-Bilateral Proposal circular released by the Budget Office of the Federal Ministry of Finance, Budget and National Planning which determines[Read More…]

Report: As Finance Minister Cancels Power Purchase Agreements, Nigeria To Lose $2bn Investments Based In Northern Nigeria

Investors in Nigeria’s power sector are threatening to quit Nigeria with over 1000MW projects at stake as the Federal Government backed out of the Power Purchase Agreement (PPA) contracts signed with the project developers.  Nigeria in July 2016 signed its first solar PPA in July 2016, a deal worth about[Read More…]