The Nigerian Independent System Operator (NISO) and the Nigerian Bulk Electricity Trading Plc (NBET) have resolved to deepen collaboration towards improving the efficiency, transparency and investment prospects of Nigeria’s electricity market.
The commitment was made on Tuesday, August 17, when the Managing Director/Chief Executive Officer of NISO, Engr. Abdu Bello Mohammed, FNSE, received the newly appointed Managing Director of NBET, Dr. Akinola Odeyemi, during a visit to NISO’s office.
Mohammed said closer cooperation between the two institutions was essential to addressing persistent challenges in the electricity market, particularly liquidity and market efficiency.
He noted that NISO and NBET have complementary responsibilities, with NISO handling the service side of the market while NBET plays a critical role in the energy and commercial aspects.
According to him, effective coordination between both agencies would be crucial to ensuring that the reforms introduced under the Electricity Act 2023 translate into tangible improvements in electricity supply.
“The goal of establishing these agencies is to ensure Nigerians enjoy stable power supply. We must therefore work together to achieve it,” Mohammed said.
He assured NBET of NISO’s readiness to work with the company and other stakeholders to develop practical solutions to challenges confronting the electricity market.
Mohammed also expressed confidence that the leadership of the Minister of Power, Joseph Tegbe, would provide the needed direction for stronger coordination and reforms across the sector.
He added that the two institutions had a history of collaboration and would build on the relationship under their new leadership.
Odeyemi, in his remarks, commended NISO for its efforts towards improving the stability and efficiency of the electricity market.
He said his visit to NISO and other sister agencies was aimed at identifying areas where NBET could strengthen collaboration and more effectively deliver on its mandate.
The NBET chief identified market settlement, revenue alignment, coordination and broader market-development strategies as key areas requiring closer cooperation between the two institutions.
He assured that NBET would maintain a strong working relationship with NISO and other stakeholders to consolidate gains in the sector and support further market development.
Odeyemi said a better coordinated electricity market would boost investor confidence, attract new investments and ultimately contribute to more reliable electricity supply across the country.
