By Seun Ibiyemi
The Nigerian Electricity Regulatory Commission (NERC) has announced plans to partner with eTranzact International Plc to deploy financial technology solutions aimed at improving liquidity in Nigeria’s electricity market.
The Chairman of NERC, Musiliu Oseni, disclosed this in a statement published on the commission’s website on Monday in Abuja.
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Oseni said the partnership was discussed during a meeting with the management team of eTranzact at the commission’s office, where both organisations expressed willingness to explore collaborative initiatives that would leverage financial technology to strengthen payment systems within the power sector.
According to him, the collaboration will focus on improving revenue assurance, enhancing operational efficiency and promoting long-term sustainability in the Nigerian Electricity Supply Industry (NESI).
“We are dedicated to supporting innovations that enhance liquidity, operational efficiency and service delivery across the Nigerian Electricity Supply Industry,” Oseni said.
The eTranzact delegation, led by its Managing Director, Niyi Toluwalope, presented several financial technology solutions specifically designed for the electricity sector.
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Among the proposals was a digital platform that would enable electricity consumers to purchase power and make payments in instalments, a move expected to improve affordability and boost revenue collection for electricity providers.
The delegation also highlighted additional digital payment and settlement solutions aimed at improving efficiency and transparency across the power market.
