Nigeria's NISO and NBET Boost Collaboration to Enhance Power Market Efficiency

Nigeria's electricity market is set for enhanced efficiency and investor appeal as the Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) deepen their collaboration. This move aims to strengthen the market's transparency and overall attractiveness.

Bello Mohammed, Managing Director/Chief Executive Officer of NISO, emphasized the intertwined responsibilities of both agencies in ensuring the electricity market's effectiveness. He stated that their ultimate objective is to guarantee stable and reliable electricity supply for Nigerians. NISO expressed its readiness to work with NBET and other stakeholders to tackle the liquidity challenges plaguing the sector.

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Our organisation and NBET share a lot in common; while we manage the service aspect of the electricity market, you manage the energy. Historically, NISO and NBET have always worked in synergy, so what we need now is to improve that under the new leadership.

"Our organisation and NBET share a lot in common; while we manage the service aspect of the electricity market, you manage the energy. Historically, NISO and NBET have always worked in synergy, so what we need now is to improve that under the new leadership," Mohammed said. He added that both agencies are responsible for ensuring Nigerians benefit from the electricity market reforms, underscoring that their establishment aims to provide stable power supply.

Dr. Akinola Odeyemi, Managing Director of NBET, visited NISO following his appointment. He explained that the visit was intended to fortify relationships with sister agencies and identify avenues for closer collaboration. "Upon my appointment, I thought it wise to visit and familiarise myself with sister agencies to see areas where we can work more closely together to achieve our overall mandates. Particularly, we are here to discuss further collaboration on market settlement, revenue alliance, coordination, and the overall strategies to improve the electricity market," Odeyemi stated.

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Upon my appointment, I thought it wise to visit and familiarise myself with sister agencies to see areas where we can work more closely together to achieve our overall mandates. Particularly, we are here to discuss further collaboration on market settlement, revenue alliance, coordination, and the overall strategies to improve the electricity market.