Akinnawo Becomes NBET Boss As Ewelukwa Bows Out

By SUNDAY ABBA, Abuja

Mr Johnson Akinnawo has been named the acting Managing Director and Chief Executive Officer (Actg MD/CEO) of the Nigerian Bulk Electricity Trading Plc (NBET).

This is as Dr Nnaemeka Ewelukwa, who was appointed MD/CEO of the company by former President Muhammadu Buhari in 2020, retires after completing his 4-year tenure on 24 July, 2024.

A statement signed and issued by the company’s management on Thursday said Akinnawo, whom it described as a consummate professional with over 25 years of experience, and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a seasoned Energy Contract Management Specialist, and the pioneer Financial Controller of NBET in 2012, was responsible for architecting the seamless setup of NBET’s Accounting Systems, designing, and implementing transparent controls, as well as instituting a culture of transparency and integrity in all NBET energy market settlements.

“He has been an integral part of the NBET management team since inception, successfully managing all NBET market receipts from the distribution companies (DisCos) and payments to the generation companies (GenCos), including government intervention and the FGN World Bank Power Sector Recovery Operation (PSRO) funds,” it added.

Prior to this appointment, as the General Manager, Origination, Contract Management and Administration, the new NBET boss was responsible for directing IPP planning and procurement activities through contract negotiations, managing portfolio risks and ensuring regulatory compliance.

“Among other achievements, he led the team that successfully completed the negotiation of several greenfield IPP projects and closed out on the Trans Afam 726MW Power Purchase Agreement (PPA), facilitating the FGN’s privatization of the Power Plant and paving the way for additional investments of up to N105.3billion.

“He also finalised a SOMW power purchase contract for the Maiduguri Emergency Power Project, restoring electricity to the region after insurgency disruptions.

“Additionally, he achieved the successful implementation of the first-ever industry-wide synchronous capacity test of Power Plants in NBET’s portfolio, to ascertain the plant’s net dependable capacity alongside gas sufficiency/availability in the Nigerian Electricity Supply Industry (NESI).

“Mr Akinnawo now leads NBET at a time when the company is implementing measures to Stabilise the electricity market and address liquidity in the electricity value chain,” the statement further disclosed.