Senate Queries NBET, FRC Over 2025 Budget Utilisation, Directs Fresh Scrutiny of 2026 Proposals

By Thankgod Osemi

The Managing Director of the Nigerian Bulk Electricity Trading (NBET) Plc, Mr. Akinawo Johnson, has disclosed that the agency was unable to fully utilise its 2025 budget allocation due to late passage and release of funds.

Appearing before the Senate Committee during a budget defence session, Mr.

Johnson explained that the 2025 budget was approved toward the end of the fiscal year, leaving the agency with limited time to implement planned expenditures.

According to him, out of the N858 billion appropriated for the year, only N60 million was released, and the agency has yet to gain access to the funds. As a result, the unutilised allocation has been rolled into the 2026 proposed budget, which now stands at N601 billion.

He noted that the inclusion of the rolled-over figures in the 2026 budget proposal was necessary to ensure continuity of critical operations and financial obligations within the power sector.

The Senate Committee, however, expressed concern over the discrepancies and pledged to thoroughly examine the figures. The lawmakers directed NBET to submit its detailed 2026 budget proposal to the Committee Secretariat for further scrutiny between now and Monday.

In a related development, the Managing Director of the Fiscal Responsibility Commission (FRC), Mr. Charles Abana, also appeared before the committee to defend the Commission’s budget estimates.

Chairman of the Committee, Senator Sani Musa, while addressing both agencies, emphasised the need for transparency, accuracy, and fiscal discipline in budget presentations. He asked the agencies to take their leave and return with revised submissions after conducting a comprehensive review of their proposals.

The committee reaffirmed its commitment to ensuring proper budget implementation and accountability in line with legislative oversight responsibilities.