The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) have collaborated to improve electricity market operations and promote a more efficient, transparent and investor-friendly in Nigeria Electricity Sector Industry (NESI).

Managing Director/Chief Executive Officer of NISO, Engineer Abdu Bello Mohammed, while welcoming the NBET’s management, led by its Managing Director, Dr Akinola Odeyemi, to NISO’s headquarters, said both agencies have responsibility to make the electricity market efficient and attractive to investors.

Mohammed said the agencies were established to make sure that Nigerians enjoy stable power supply while, assuring that they will work together in line would the 2023 Electricity Act.

He said, “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.

“The goal of establishing these agencies is to ensure Nigerians enjoy stable power supply. We must therefore work together to achieve it. The Honourable Minister is someone with great vision and an open mind. We owe him and indeed Nigerians the obligation to unite under his leadership to share ideas and address the challenges in the sector.”

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The NBET boss, in his remarks, commended NISO for what it is doing to stabilise and improve the electricity market, noting that his organisation would continue to work hand-in-hand to ensure that the gains recorded so far are not only sustained but improved upon.

He said: “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 assured that under his leadership, NBET will continue to maintain a robust relationship with NISO and other agencies in the sector to ensure the electricity market continues to grow and attract investment that will ultimately translate into improved electricity supply in the country.