The Traffic

Shocking! NBET to Spend a Whopping N858 Billion in 2025 – Here’s What You Need to Know

By Achimi Muktar

ABUJA: The Nigerian Bulk Electricity Trading Company Limited (NBET) has proposed a staggering budget of N858,493,153,585 for the year 2025. This massive expenditure plan is currently under review in the National Assembly, with the company seeking approval for its 2025 Appropriation Bill.

A significant portion of the proposed budget will go toward securing the future of Nigeria's electricity market. The company has earmarked N422.6 million for the development of liquidity guarantees and payment solutions for the Nigerian Electricity Supply Industry (NESI), aiming to ensure the sector’s financial stability.

Additionally, NBET plans to allocate N151 million for legal costs, including general litigation, alternative dispute resolution, and legal opinions. The company is also proposing a hefty N800 million for vehicle purchases, with other capital projects set to consume the lion’s share of the budget—an eye-watering N857,693,153,585.

This bold move comes after the Nigerian Electricity Regulatory Commission (NERC) renewed NBET’s operating license for another three years, following a thorough review of the company’s application and corporate business plan. NBET, established as a creditworthy off-taker of bulk electricity, plays a crucial role in distributing electricity through the national grid.

The approval of this large budget signals the agency's continued efforts to strengthen Nigeria’s power sector, but questions remain about how effectively the funds will be utilized. Stay tuned for more updates on this unfolding story.