Akinnawo Takes Over at NBET after Ewelukwa’s Exit

Emmanuel Addeh in Abuja

Mr. Johnson Akinnawo has taken over in acting capacity from Dr. Nnaemeka Ewelukwa, who completed his four-year tenure at the Nigerian Bulk Electricity Trading (NBET) Plc on July 24.

A statement from NBET described Akinnawo as a consummate professional with over 25 years of experience, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and  a seasoned energy contract management specialist.

As the pioneer Financial Controller of NBET in 2012, the statement said that he was responsible for pioneering the seamless setting up of NBET’s accounting systems.

It said that he also designed as well as implemented transparent controls and instituted 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 manages all NBET market receipts from Distribution Companies (Discos), as well as payments to Generation Companies (Gencos), including government intervention funds and the federal government’s World Bank Power Sector Recovery Operation (PSRO) funds.

“Prior to this appointment, as the General Manager, Origination, Contract Management and Administration, he 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 privatisation of the power plant and paving the way for additional investments of up to N105.3billion,” NBET added.

According to the statement Akinnawo also finalised a 50MW power purchase contract for the Maiduguri Emergency Power Project, restoring electricity to the region after insurgency disruptions.

Additionally, it said 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.

“He is working collaboratively with the regulator, other critical sector participants and the Federal Government of Nigeria, to ensure sustained and continuous settlement of all obligations to Gencos, including those from Discos and the government,” it stressed.

 As the Chairman of NBET’s Working Group on the implementation of an energy exchange, Akinnawo the statement said, is also leading the company’s efforts to facilitate a more sustainable electricity market in the country.