By Agatha Chitumu, Abuja


The Organization for Economic Cooperation also known as D8 Countries has restated it’s support for Nigeria’s Power Sector teforms.


Against the backdrop, the Members countries are of the opinion that Nigeria can leverage on their learning experience to develop its electricity market.


Developing-8, an organization for development cooperation consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Pakistan, Turkey and Nigeria.


The Organization gave the indication during a courtesy visit to the Management and Staff of Nigerian Bulk Electricity Trading Plc. (NBET) in Abuja.


This medium reported that Member States of the D-8 have successfully implemented reforms in their respective electricity and energy sectors.


Turkey, Egypt and Iran for instance have a combined total installed electricity capacity of over 240,000 MWs.


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


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


He then reiterated the Federal Government commitment and support in improving electricity generation and distribution in the country.


According to him, the current administration of President Muhammadu Buhari has demonstrated strong political will and commitment in ensuring steady progress and development of the power sector as evident by the implementation of the Power Sector Recovery Program and other interventions being currently implemented.


“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,” he added.


Responding on behalf of D8, 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 then commended the MD/CEO NBET for its commitment and resilience in managing the financial transactions and contract administration in the NESI.


At the end of the parley, both parties raised hope and restated optimism in immense opportunities in the Nigerian Power Sector, pledging to deepen collaborations for the sustainable development of the sector.