From Uche Usim, Abuja
A move towards solving the epileptic electricity nightmare was consolidated on Friday, with the Nigerian Bulk Electricity Trading Company (NBET) signing a cooperation agreement with a Turkish firm, EXIST, at its facility in Maslak, Turkey.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed who doubles as NBET Board Chairman led the Nigerian delegation to the event. According to her, the Nigerian government was willing to cooperate with EXIST in enhancing the energy market in Nigeria. She said: “We want to cooperate with EXIST on this journey by walking hand-in-hand. The point that EXIST has reached is admirable. We also want to establish electricity markets by providing the necessary transformation in our country.”
She added that the cooperation agreement covers the transfer of experience and business knowledge, field visits, workshops, training, designing the institutional structure of the power market planned to be established in Nigeria, and providing technical support. The agreement also aims to liberalise the current market in Nigeria. On the purpose of the cooperation, she said the parties agreed to establish cooperation in the transition of NBET to energy exchange. Also speaking, the Chief Executive Officer of NBET, Dr. Nnaemeka Ewelukwa, expressed great optimism that the cooperation agreement with EXIST would go a long way in re-positioning NBET for enhanced performance in the Nigerian electricity market. He explained that the deal would see NBET strategically leveraging cutting-edge technology to chart a new course in its commercial transactions in the electricity market. In his remarks, EXIST’s CEO, Ahmet Türkoğlu, assured the Nigerian delegation of the firm’s readiness to cooperate with Nigeria in every possible way.