The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) have pledged to strengthen collaboration towards improving the efficiency, transparency and investment attractiveness of Nigeria’s electricity market.
The Managing Director/Chief Executive Officer of NISO, Engr. Abdu Bello Mohammed, FNSE, made the commitment on Tuesday, August 17, when the newly appointed Managing Director of NBET, Dr. Akinola Odeyemi, visited the system operator’s office.
Mohammed said NISO and NBET had intertwined responsibilities in the electricity market and must work closely to achieve the broader objective of ensuring stable and reliable electricity supply to Nigerians.
He said NISO was open to deeper collaboration with NBET and other stakeholders to address challenges affecting the sector, particularly liquidity constraints.
According to him, while NISO manages the service aspect of the electricity market, NBET manages the energy component, making cooperation between both agencies critical to the success of ongoing reforms.
“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 the establishment of both agencies was ultimately aimed at ensuring Nigerians enjoyed stable power supply, stressing that the agencies must unite under the leadership of the Minister of Power to address challenges confronting the sector.
Mohammed further said the two agencies would work together to ensure that the objectives of the Electricity Act 2023 reforms were achieved.
He described NBET as a prime agency whose responsibilities were inseparable from those of NISO, assuring that both organisations would continue to share ideas and pursue common strategies for a more efficient electricity market.
In his remarks, Odeyemi commended NISO for its efforts to stabilise and improve the electricity market, assuring that NBET would continue to work closely with the system operator to sustain and build on the gains recorded in the sector.
Odeyemi said his visit was part of efforts to familiarise himself with sister agencies and identify areas where both organisations could collaborate more effectively to achieve their respective mandates.
He identified market settlement, revenue alliance, coordination and broader strategies for improving the electricity market as key areas for enhanced cooperation.
“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,” he said.
The NBET chief executive assured that under his leadership, the organisation would maintain a robust relationship with NISO and other stakeholders in the electricity sector.
He said stronger institutional collaboration would help drive the growth of the electricity market, attract investment and ultimately translate into improved power supply across the country.
The meeting underscores renewed efforts by key electricity market institutions to deepen coordination and strengthen the implementation of reforms aimed at creating a more reliable, transparent and commercially viable electricity sector.
