March 18, 2018

Benin, Niger Republics pays $64.63m for electricity from Nigeria

Benin, Niger Republics pays $64.63m for electricity from Nigeria

The shortfall of cash inflow in the Nigeria Power sector as improved as the Federal Government has recovered $64.6 million revenue paid by neighbouring Benin and Niger republics, for the sale of electricity from Nigeria. The Minister for Power, Works and Housing, Mr Babatunde Fashola, has said.


Fashola stated on Monday at the 21st edition of the monthly power sector operators in Asaba that the Nigerian Bulk Electricity Trading Plc. (NBET) has recovered $64.6 million out of about $115.91 million owed operators in the country’s power market by both countries.
He noted that disbursements of the recovered funds to beneficiaries by NBET would commence shortly, adding that eligible beneficiaries would be paid their monies.
“To those of you businessmen, I have good news for you. We have recovered payments from power that we sold to Benin and Niger Republics. People wonder why we sell power to them but it is a product of treaties and agreements and they also help our own economy.
“So, we have a total of $64.630,055.00 that had been recovered, and NBET will work out the modalities for its distribution and hopefully by next month you should be able to report that you have received alert,” said Fashola, in his opening remarks at the meeting.

Fashola said the monthly stakeholders’ conference was an avenue to assess and evaluate the progress of collective efforts at boosting power supply in the country.

He listed some of the major challenges facing the sector to include estimated billing and inadequate prepaid meters for customers.

The minister also used the occasion to inaugurate the New Asaba Injection Substation, a 215 MVA substation expected to boost power supply to parts of Delta.

Fashola said: “”With today’s commissioning of the New Asaba 215 MVA interjection substation, there will now be more electricity for the people of Bonsac, Akwuebulu, Oduke and all other surrounding areas.”

The stressed that the federal government was working assiduously towards connecting rural areas to the national grid and appealed to people in rural areas to be patient.

“”To those communities that electricity power has not reached across the country, I implore you to be patient, because we have certainly not forgotten you.

“”I want to assure you that one by one, we will get to you so that every community in Nigeria can enjoy electricity supply,” he said.

Earlier in an address, Mrs. Funke Osibodu, the Managing Director, Benin Electricity Distribution Company (BEDC), lauded the initiators of the monthly stakeholders conference.

She said that the meeting allowed stakeholders to critically analyse their challenges and efforts towards achieving a common goal for the development of the sector.

“This forum affords all of us an avenue to interact, understand each other and evaluate our common efforts and challenges towards achieving the goal of equitable power distribution to our people.

“Here at the Benin Electricity Distribution Company, we have started making progress in the area of load management and we have also improved our billing system,” Osibodu said.

The BEDC boss stated that the company, with franchise area covering Edo, Delta and Ondo states, had energised several communities that have been without electricity for years.

She listed Ibusa and Ogwashi-Uku communities in Delta as some of the communities that BEDC has successfully energised.

In his address, Gov. Ifeanyi Okowa of Delta, lauded BEDC for the inauguration and official switch-on of the New Asaba Interjection Substation, saying it would boost power supply in the area.

Okowa, represented by the state Commissioner for Energy, Mr. Newworld Sufugha, expressed urged BEDC to focus on providing prepaid meters to its customers.

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