D-8 Countries pledge support for Nigeria’s power sector reforms

Nigeria’s power sector reforms

THE D-8 Countries on Wednesday pledged their support for the power sector reforms in Nigeria.

Ms Herietta Ighomorore, Head Corporate Communication, Nigerian Bulk Electricity Trading Plc. (NBET), said this in a statement in Abuja. 

Ighomorore quoted Amb. Isiaka Imam, the Secretary-General of the D-8 Countries Organisation for Economic Cooperation, as making the pledge when he  visited the management of NBET.

She said that the D-8, also known as Developing-8, is an organisation for development cooperation.

The D-8 countries are : Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

According to her, some member states of the D-8 have successfully implemented reforms in their respective electricity and energy sectors, Turkey, Egypt and Iran have a combined total installed electricity capacity of over 240,000 MWs.

Imam assured NBET management of the commitment of the D-8 Organisation Secretariat to provide support and all necessary assistance toward facilitating collaboration among the D-8 countries for sustainable development and growth.

He commended the managing director of NBET for his commitment and resilience in managing the financial transactions and contract administration in the Nigeria Electricity Supply Industry (NESI).

According to him, both parties are optimistic of the immense opportunities in the Nigerian Power Sector and pledged to collaborate for sustainable development of the sector.

”Nigeria can leverage on the learning experience from these countries to develop its electricity market,” he said.

Earlier, the Managing Director of NBET, Mr Nnaemeka Ewelukwa, acknowledged the mutual relation and cooperation between both organisations.

He also acknowledged the organisation’s support in facilitating collaboration among the D-8 member countries, especially in the area of energy development and economic growth.

Ewelukwa said that leveraging on NBET recent Memorandum of Understanding (MOU) with the Energy Exchange of Instanbul (EXIST), it was set to implement series of actions toward a quick turnaround of improvements in NESI.

He reiterated the Federal Government of Nigeria’s commitment and support in improving electricity generation and distribution in the country.

According to him, the current administration of President Muhammadu Buhari has demonstrated strong political will and commitment in ensuring steady progress and development of the power sector.

”This is evident by the implementation of the Power Sector Recovery Programme and other interventions being implemented in the sector.

”With a sense of urgency, NBET is poised to collaborate with other D-8 countries in areas of technical and knowledge exchange toward enabling sustainable development in the NESI,” he said.(NAN)