Power Sector Reforms: D-8 Secretary General Visits NBET, Pledges Support

The Secretary General of the D-8 Countries Organization for Economic Cooperation, Ambassador Isiaka Abdulqadir Imam has pledged to support the ongoing power sector reforms in Nigeria.

Ambassador Isiaka visited the Management and Staff of Nigerian Bulk Electricity Trading Plc.(NBET) on courtesy, Wednesday in Abuja.

D-8, also known as Developing-8, is an organization for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

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

The MD/CEO NBET, Dr.Nnaemeka Ewelukwa in his welcome speech to the Ambassador, acknowledged the mutual relation and cooperation between both organizations, and the latter’s support in facilitating collaboration amongst the D-8 member countries, especially in the area of energy development and economic growth.

Leveraging on its recent MOU with the Energy Exchange Instanbul (EXIST), NBET is set to implement series of actions towards a quick turnaround of the Nigerian Electricity Supply Industry.

The MD/CEO NBET (Dr. Nnaemeka Ewelukwa) speaking during the meeting, reiterated the Federal Government of Nigeria (FGN) commitment and support in improving electricity generation and distribution in the country.

Specifically stating that 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 Program and other interventions being implemented in the sector.

He stated that with a sense of urgency, NBET is poised to collaborate with other D-8 countries in areas of technical and knowledge exchange towards enabling sustainable development in the NESI.

Ambassador Isiaka Imam also assured the MD/CEO and Management Team of NBET of the commitment of the D-8 Organization Secretariat to provide support and all necessary assistance towards facilitating collaboration amongst the D-8 countries for sustainable development and growth.

He commended the MD/CEO, NBET for his commitment and resilience in managing the financial transactions and contract administration in the NESI.

Both parties are optimistic of the immense opportunities in the Nigerian Power Sector and pledge to collaborate for the sustainable development of the sector.

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