The Nigerian Bulk Electricity Trading (NBET) Plc has announced Dr. Nnaemeka Ewelukwa as its acting Managing Director/CEO .
The Minister of Power, Engr. Sale Mamman had on Tuesday directed that the erstwhile MD, Dr. Marilyn Amobi stepped down over myriads of complaints.
He also raised a five- man committee to investigate those complaints about Amobi.
Barely 24 hours after the directive, NBET in a statement on Wednesday by Aisha Waziri from the corporate services department said the directive has been complied with as Ewelukwa, a General Manager, and the pioneer General Counsel and Company Secretary at NBET took charge of the agencies’ operations.
He has been there at the establishment of NBET by the Federal Government of Nigeria (FGN) as a bulk electricity trader in the nascent electricity market.
Ewelukwa has been part of the executive management team at NBET and has over 20 years of professional experience spanning private practice, academia and currently, public service.
Prior to joining NBET, he served as a Technical Adviser on electricity regulatory and transaction issues with the Presidential Task Force on Power (PTFP} set up by the federal government to lead the implementation of the reform roadmap for the power sector.
He has led NBET’s negotiations with Independent Power Producers (IPPs) and the development of Power Purchase Agreements (PPAs} at NBET, paving the way for billions of dollars in additional private sector investments in the electric power sector.
The statement reads in part: “Ewelukwa is also a co-author of three globally acclaimed handbooks on electricity transactions namely, Understanding Power Purchase Agreements (2014}, Understanding Power Project Financing (2016), and Understanding Power Project Procurement (2018}.
“They were supported by the United States Power Africa initiative and the African Legal Support Facility hosted by the African Development Bank (AfDB).
A qualified lawyer by training, Dr. Ewelukwa holds an undergraduate law degree from the University of Nigeria, a Master of Laws degree in International Business Law, from the London School of Economics and Political Science (LSE} and a PhD in Law from Queen Mary, University of London, with specialization on privatization and the legal reform of the Nigerian power sector. He is also a member of the Chartered Institute of Arbitrators.”