THE Federal Government has charged participants in the electricity market to imbibe best business practices in order to bequeath a well-established electricity market to the next generation.
The Permanent Secretary, Ministry of Power, Amb. Godknows Igali, gave the charge while speaking at the close of a 2-day interactive workshop on: ‘Interpreting and Understanding the Market Rules’ for the electricity market stakeholders in Abuja.
Igali, while highlighting the history and experiences leading to the power sector privatisation, called on the market participants to be open, willing to learn and become better operators as the sector was still going through a learning curve.
A statement from the System/Market Operation, Transmission Company of Nigeria, TCN, said Igali as expressed confidence and optimism that the current challenges would be surmounted over time, and the objectives of privatisation achieved to position Nigeria on the path to sustained industrial development.
He told market participants that the Ministry is discussing with relevant Federal agencies such as Central Bank of Nigeria, CBN, and Pension Commission with a view providing a pool of funds that can be accessed at single-digit interest rate to ramp up operations and service delivery.
He added that bilateral discussions were ongoing with several international agencies on how to build thermal (gas) power plants, micro-grids and other renewable energy plants in order to provide more power for the grid and for Nigerians.
He added that bilateral discussions were ongoing with several international agencies on how to build thermal (gas) power plants, micro-grids and other renewable energy plants in order to provide more power for the grid and for Nigerians.
Earlier, the Managing Director/Chief Executive Officer, System Operation/Market Operation, Mrs. Ngozi Osuhor, explained that the workshop was organised to enhance the understanding of the market rules and grid codes among market players so that they can be more efficient and effective in delivering superior services.
Sustainable basis
She said that the System/Market Operation was through the workshop, performing one of its core responsibilities of providing education and capacity building for participants in order to grow the market on a sustainable basis.
She assured that similar workshops will be held on regular basis as a platform to continue the interaction and exchange of industry and operational knowledge among market participants to bring them up-to speed with developments in the ever-changing world of electricity market.
She stated that decisions on the way forward reached at the end of the workshop deliberations would be sent to the regulators for necessary action.
She stated that decisions on the way forward reached at the end of the workshop deliberations would be sent to the regulators for necessary action.
The workshop which was organised by Infranet Energy Services, had many industry experts including Mr. Uzoma Achinanya, Mr. Musa Gummel, Mr. Chidi Ike, Mr. Abdulkadir Shettima, and Mr. Robert Grant, and a host of others delivering papers on various aspects of the Grid Codes and the Market Rule.
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