NIGERIAN BULK ELECTRICITY TRADING PLC
Nigerian Bulk Electricity Trading Plc (NBET) also known as the Bulk Trader, is a wholly Federal Government of Nigeria (FGN) owned company incorporated on July 29 2010 as part of President Goodluck Jonathan’s roadmap for Power sector reform towards the full implementation of the Electric Power Sector Reform Act (EPSRA).
NBET enters into power purchase agreements with generation companies and resells power to distribution companies through the vesting contracts. To fulfill its mandate and drive investment into Nigeria’s power sector, NBET is positioned as a credit-worthy counterparts for current and future generation projects.
NBET’s as of October 2014 capitalization by the Federal Government of Nigeria in excess of $800 Million.
On August 23, 2011, President, Dr. Goodluck Ebele Jonathan, GCFR, inaugurated a nine-person Board of Directors with Coordinating Minister of the Economy and Honourable Minister of Finance, Dr. Ngozi Okonjo-Iweala as the statutory Board Chair and Mr. Rumundaka Wonodi as the Managing Director and Chief Executive Officer.
The other Board members are: the Honourable Minister of Power, Prof. Chinedu Nebo; Mr. Saka Abimbola Isau SAN, (Vice Chairman); Director-General, Bureau of Public Enterprises, Mr. Benjamin Ezra Dikki; Mr Haruna Sambo Mohammed; Hon. Mohammed Kumalia and, Mr. Paul Usoro, SAN.
In line with President Goodluck Jonathan’s “Road-map to Power Sector Reform” of August 2010, and, in fulfillment of the requirements of EPSRA, the Nigerian Bulk Electricity Trading Plc, (NBET) aka the Bulk Trader, was incorporated on July 29 2010 as the SPV for carrying out, under license from NERC, the bulk purchase and resale function contemplated by the EPSRA. As such NBET has been set up to “engage in the purchase and resale of electric power and ancillary services from independent power producers and from the successor generation companies”
8th Floor, Bank of Industry Building,
Off Herbert Macaulay Way,
Central Business District, FCT, Abuja