NBET purchases electricity from the generating companies through Power purchase Agreements (PPAs) and sells to the distribution companies through Vesting Contracts. The generating companies include the recently privatised PHCN successor companies, the Niger Delta Power Holding Companies (NIPPs), the already existing Independent Power Producers (IPPs) and the new IPPs.
Our mandate includes:
- To put in place an effective transaction environment which minimizes risk and allocates it fairly to the parties best able to manage it.
- To implement a procurement process that is transparent and will result in the economic procurement of needed power.
- To enter into contracts that are well structured and managed in a manner that precludes recourse to any credit guarantee instrument.
- To novate contracts and wind up as soon as the DISCO’s are ready to take on their own procurement.
A Nigeria where electricity is taken for granted.
To be an effective and efficient catalyst for private sector investment into the electricity industry in Nigeria.