The Federal Government has empowered the Nigerian Bulk Electricity Trader with the sum onebillion Dollars, $1 billion, which has been approved in form of bond, to enable it purchase electricity from the generating companies.
Government did not, however, explain why it needed to bail out the bulk trader, but the announcement came on the heels of government’s disclosure that it is on the verge of approving the second phase of the Electric Power Sector Road Map, to reaffirm its resolve that there is no going back on power privatization.
The Minister of Power, Prof. Chinedu Nebo, who disclosed this last week in Abuja, said, the Road Map II became necessary in order to empower and take care of gaps that have been identified, and would soon approve, Road Map II.
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