The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) are strengthening collaboration to improve the efficiency, transparency and investment attractiveness of Nigeria’s electricity market.
The Managing Director and Chief Executive Officer of NISO, Engr. Abdu Bello Mohammed, stated this when the Managing Director of NBET, Dr. Akinola Odeyemi, visited the organisation.
Mohammed said both agencies have intertwined responsibilities in the electricity market and must work together to address challenges, particularly liquidity, in order to ensure stable and reliable electricity supply to Nigerians.
He explained that while NISO manages the service aspect of the electricity market, NBET manages the energy component, stressing that both organisations have historically worked in synergy.
According to him, stronger collaboration between the two agencies would help advance the objectives of the Electricity Act 2023 reforms and support the Federal Government’s efforts to create a more efficient and attractive electricity market.
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Mohammed said NISO remained open to working with NBET and other stakeholders to develop holistic solutions to challenges affecting the sector.
On his part, the NBET Managing Director, Dr. Akinola Odeyemi, commended NISO for its efforts to stabilise and improve the electricity market.
Odeyemi said his visit was aimed at identifying areas where the two organisations could deepen cooperation, particularly in market settlement, revenue alliance, coordination and strategies for improving the electricity market.
He assured that NBET under his leadership would maintain a robust relationship with NISO and other industry stakeholders to sustain and build on gains already recorded in the sector.
Odeyemi added that stronger cooperation between the agencies would help grow the electricity market, attract investment and ultimately contribute to improved electricity supply across the country.
