The Nigerian Independent System Operator, NISO, and the Nigerian Bulk Electricity Trading Plc, NBET, have agreed to deepen collaboration to improve operations in Nigeria’s electricity market. Both agencies say the partnership will help deliver a more efficient, transparent and investor-friendly power sector.

‎The Managing Director and Chief Executive Officer of NISO, Engineer Abdu Bello Mohammed, FNSE, announced this on Tuesday, August 17, during a meeting in Abuja. He said the two agencies have intertwined responsibilities critical to making the market attractive to investors.

‎According to Mohammed, the overall objective is to ensure stable and reliable power supply to Nigerians. He added that NISO is open to working with NBET and other stakeholders to holistically address liquidity challenges in the sector.

He noted that while NISO manages the service aspect of the electricity market, NBET manages the energy. He said the two organizations have always worked in synergy and now need to improve that relationship under the new leadership.

The NISO boss stressed that the goal of establishing both agencies is for Nigerians to enjoy stable electricity. He called for unity under the Honourable Minister’s leadership to share ideas and tackle sector challenges.

‎Mohammed further assured that NBET is a prime agency with inseparable responsibilities with NISO. He said both will work together to ensure the goals of the Electricity Act 2023 reforms under this administration are achieved.

‎On his part, the Managing Director of NBET, Dr. Akinola Odeyemi, commended NISO for its efforts to stabilize the market. He said NBET will continue to work hand-in-hand to sustain and improve on the gains recorded so far. Odeyemi said his visit was to explore closer collaboration on market settlement, revenue alignment, coordination, and overall market improvement strategies.

‎Dr. Odeyemi assured that under his leadership, NBET will maintain a robust relationship with NISO and other sector agencies. He said this is to ensure the electricity market continues to grow and attract investment that will ultimately translate into improved power supply for Nigerians.