NISO, NBET Pledge Joint Action To Stabilise Electricity Market Liquidity, Boost Investor Confidence

The managing director of the Nigerian Independent System Operator (NISO), Abdu Bello Mohammed, said his agency and the Nigerian Bulk Electricity Trading Plc (NBET) will deepen cooperation to tackle market liquidity and make Nigeria’s electricity sector more attractive to investors.

Mohammed said on Tuesday that NISO and NBET have linked responsibilities and must coordinate closely to deliver stable and reliable power to Nigerians. He said the two bodies “manage complementary parts of the market” and promised to strengthen ties under NBET’s new leadership.

Speaking during the new NBET managing director’s visit to   NISO, Mohammed said NISO was ready to work with NBET and other stakeholders “to holistically address the challenges of liquidity in the sector.”

He welcomed the NBET managing director to NISO’s office, adding: “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.”

He also praised the ministry’s leadership, saying the minister “is someone with great vision and an open mind,” and urged sector agencies to unite and share ideas under that leadership to confront market failures.

The new managing director of NBET, Dr Akinola Odeyemi, said his first visits to sister agencies were meant to identify areas for closer collaboration. He told journalists that NBET would focus on market settlement, revenue alignment and coordination to shore up liquidity and strengthen investor confidence.

“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,” Odeyemi said. He added that NBET will sustain and build on gains already recorded in the market and maintain a “robust relationship with NISO and other agencies” to attract investment and improve supply.

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.