Updated: Buhari recalls NBET MD, AMOBI who was sacked by Power Minister

President Muhammadu Buhari on Thursday reversed the dismissal of the Managing Director of the Nigeria Bulk Electricity Trading Company  Limited NBET, Marylin Amobi.

BusinessDay gathered from a memo from the office of the Secretary to the Government of the Federation, signed by the SGF, Boss Mustapha.

This is just as the SGF disclosed that NBET has been moved from the Ministry of Power to the Ministry of Finance

In reversing the decision of the Power Minister, Sale Mamman, who sacked the NBET MD on the 19th of December , 2019, the SGF directed Amobi to resume immediately, while also asking the acting MD, Nnaemeka Ewelukwa, appointed by the Minister, to step down.

The sacking of Amobi was the climax of the crises rocking the Nigeria energy sector, resulting in Mamman asking Amobi to step down with immediate effect in order to “restore sanity” in the management of the agency.

The minister had also directed the constitution of a 5-man investigative committee to look into the allegations against the MD.

The reinstatement of the NBET MD was the second in such act by the President who had on Tuesday, also reversed the minister’s suspension of Damilola Ogunbiyi as the managing director of the Rural Electrification Agency (REA).

NBET which was incorporated on July 29, 2010 had served  as a special purpose vehicle for the purchase of  electricity from the Generation Companies (GenCos), which it sells directly to the Distribution Companies (DisCos) through vesting contracts, under  the Power Purchase Agreements (PPAs)

But Nigerians have been subjected to untold hardships over the epileptic power supply and what many see as over billing in the system.

While electricity consumers are blaming  lack of synergy between service providers and government agencies for their woos, the new Power Minister, Sale Mamman recently steered fresh controversy when he dragged out his immediate predecessor, Babatunde Fashola for failing to stabilize power, despite “ huge spending”

Mamman had in a statement signed by the Special Adviser on Media and Communications, Aaron Artimas, Mamman described it as “shame that he’s being attacked for trying to improve a sector Fashola couldn’t, even after billions of Naira were pumped into the sector.”