- Dr Nnaemeka hails CBN for its role in stabilising NESI.
- TCN and DisCos to identify critical projects.
The MD and CEO Nigerian Bulk Electricity Trading Company (NBET), Dr. Nnaemeka Eweluka, hails the Central Bank of Nigeria (CBN) for playing a critical role in stabilizing the Nigerian Electricity Supply Industry (NESI).
NBET recently organized a two-day capacity building workshop for journalists covering the sector under the Power Correspondents Association of Nigeria (PCAN) and Civil Society Organisations, held at Lagos Continental Hotels, Victoria Island, Lagos. In the workshop, Dr. Eweluka noted that the CBN through its critical interventions in the power sector has performed a very positive role in trying to sort out the electricity market challenges.
According to him, the Apex bank working in collaboration with the Transmission Company of Nigeria (TCN) and the Electricity Distribution Companies (DisCos) was able to identify critical projects and if quickly addressed would restore normalcy and increase production and supply of electricity. “So what happened was that CBN working with the Transmission Company of Nigeria, and the Electricity Distribution Companies asked what critical projects needs to be addressed to quickly yield results in the sector.
“And so the DISCOs and TCN worked together to come up with a list of some critical projects and I can’t be specific on the amount, maybe we can furnish that subsequently but that is what is happening. CBN decided to find those critical interventions so that there can be some quick wins even as the bigger project is being implemented, let’s have some quick wins that will have impacts on the lives of Nigerians.”