By Joycelyn Ellakeche Adah
The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) have stepped up collaboration to tackle persistent challenges in Nigeria’s electricity market and make the sector more efficient, transparent and attractive to investors.
The commitment was made on Tuesday during a meeting between the management of both agencies, with the two electricity market operators agreeing to deepen cooperation on market settlement, revenue coordination and other measures critical to improving the stability of the power sector.
The Managing Director/Chief Executive Officer of NISO, Engr. Abdu Bello Mohammed, said the two agencies have intertwined responsibilities and must work together to address the challenges confronting the electricity market.
Mohammed said NISO and NBET have historically operated in synergy, stressing that the relationship must be strengthened under their new leadership to deliver the objectives of the Electricity Act 2023 reforms.
He said the ultimate goal of the collaboration was to ensure Nigerians have access to stable and reliable electricity, while also creating an electricity market capable of attracting the investment required for sustainable growth.
According to him, liquidity remains one of the major challenges facing the sector, making stronger collaboration among key market institutions essential to finding lasting solutions.
Mohammed assured NBET of NISO’s willingness to work closely with the agency and other stakeholders to address the sector’s challenges, saying both organisations owe Nigerians a duty to unite, share ideas and improve the electricity market.
He described NBET as a critical agency whose responsibilities are closely linked with those of NISO, adding that both institutions must work together to achieve the objectives of the ongoing power sector reforms.
In his remarks, the Managing Director of NBET, Dr. Akinola Odeyemi, commended NISO for its efforts towards stabilising and improving the electricity market.
Odeyemi said his visit was aimed at strengthening relationships with sister agencies and identifying areas where both institutions could work more closely to deliver their mandates.
He identified market settlement, revenue alliance, coordination and broader market strategies as key areas requiring stronger collaboration between NISO and NBET.
The NBET chief executive assured that under his leadership, the agency would maintain a robust relationship with NISO and other stakeholders in the electricity sector.
He said the objective was not only to sustain the gains already recorded in the electricity market but to build on them, attract new investment and ultimately translate improved market performance into more reliable electricity supply for Nigerians.
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