Nigeria’s Minister of Power Chinedu Nebo has unveiled the Electricity Market Permanent Payment System, restating the government’s commitment to ensuring transparency and efficiency in the power sector.
Speaking at the Apo Transmission Station in Abuja, Nebo said the day’s new payment system indicates a real platform take-over from Government control — through the market operators — to the individual owners of power legacy assets.
Nebo remarked that he is satisfied with the development, expressing belief that the new initiative will assist bridge the gap within revenue collection, as outputs and inputs are all evaluated. He added that each player in the sector has access to the platform.
Nebo also called on the new power sector investors to invest greatly in metering the down-stream and up-stream electricity flow.
Ngozi Osuhor, the Market Operator, said, “The platform is a countrywide project that will join power generation and distribution firms. The participation of the private sector in the handling of meters has continually taken the power sector to the declaration of Transitional Electricity Market (TEM).”
While assessing the sector, Godknows Igali, who is the Permanent Secretary in the Power Ministry, said the power sector is moving in stages although in the right direction adding that in the near future, it would get to its crusing level.