The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reaffirmed its commitment to national development by partnering with the Nigerian Bulk Electricity Trading Plc (NBET) to achieve the mandates of both agencies.

This was made known during a courtesy visit by the RMAFC Investment Committee to the NBET headquarters in Abuja.

Leading the delegation, Mr Ekene Enefe, Commissioner representing Anambra State at RMAFC, said the visit was in line with the commission’s constitutional mandate as outlined in Section 6(2) of the RMAFC Act, 2025.

He noted that the law empowered the commission to demand and obtain relevant information from government agencies and private sector operators.

Enefe said the purpose of the visit was to engage NBET for a better understanding of its operations, roles, and the challenges it faced in executing its mandate.

He recalled that during a recent interactive session with the Niger Delta Power Holding Company (NDPHC), the issue of NBET’s indebtedness to the company was raised, prompting the committee to seek clarification directly from NBET.

“Since government intervention in the power sector is an ongoing process, RMAFC has initiated a review of the revenue allocation formula to ensure adequate funding for critical Federal Government projects, especially in infrastructure development,” Enefe said.

Responding, the Managing Director/Chief Executive Officer of NBET, Mr Johnson Akinnawo, described the agency as a “special trader” in the Nigerian Electricity Supply Industry (NESI).

He said NBET was responsible for purchasing electricity in bulk from generation companies (GenCos) and selling it to distribution companies (DisCos).

He explained that NBET played a critical role in stabilising the sector and encouraging private sector investment through power purchase agreements.

On the issue of indebtedness to the NDPHC, Akinnawo clarified that while NBET was involved in coordinating payments and debt recovery within the sector, it did not have full oversight of the entire process.

He explained that real-time revenue monitoring and enforcement fell under the responsibilities of the Nigerian Electricity Regulatory Commission (NERC) and the Central Bank of Nigeria (CBN).

 “NBET will provide a comprehensive list of outstanding debts owed by GenCos to support RMAFC’s investigation,” he said.

He also disclosed plans to convene an interactive session involving all relevant government agencies, to which members of the RMAFC committee would be invited. (NAN)(www.nannews.ng)