NBET’s new MD assumes duty

The newly-appoited Managing Director of Nigerian Bulk Electricity Trading Company (NBET) Mrs Marilyn Amobi, has assumed duty.

This is contained in a statement by the Management of NBET on Thursday in Abuja.

President Muhammadu Buhari approved the appointment of Dr Marilyn Amobi as the new Chief Executive Officer of the company in July for a four-year tenure.

According to the statement, Amobi assumed duty as the new Chief Executive on Aug. 22.

It stated that Amobi began her career in the finance sector as an investment banker and a retail banker.

She had also served variously as an energy policy adviser on electricity and natural gas in Europe, North America and Africa.

The statement said Amobi obtained a PhD in Economic Regulation and Competition from CASS Business School, University London, England and Bachelor of Science degree in Economics from the University of Nigeria Nsukka.

NBET was established as a special purpose organisation for carrying out the bulk purchase and re-sale function anticipated by the 2005 Electric Power Sector Reform Actor (EPSRA).

With a robust capitalisation from the Federal Government, its primary objective is to drive investment in the nation’s power sector.

It carries out its responsibility by purchasing electricity from the generating companies (GENCOs) through Power Purchase Agreements (PPAs) and sells the electricity to the distribution companies through Vesting Contracts.