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What’s Stopping The Progress Of Nigeria’s Transitional Power Market?

What’s Stopping The Progress Of Nigeria’s Transitional Power Market?

http://youtu.be/fFcWiCrbwdQ

Chinedu Nebo, Nigeria’s Minister of Power has implemented a transitional power market, Bloomberg TV Africa reported. Purchase Power Agreements (PPA) to be aided by the work of new bulk traders have already gone into effect. When the new projects is fully underway, energy customers and stakeholders will begin to see a change within the power sector — increased tariffs, however, are on hold. According to Tunde Gbajumo, CEO of Symbian Power, the country will adapt to a new operational system and work toward conquering investment and infrastructural hurdles.

“It affects the sector in a great deal, because up until this point we’ve been operating on interim market groups,” Gbajumo told Bloomberg TV Africa about Nebo’s announcement. “In our case, we’re involved as investors, technical partners and up to date we’ve been interacting with the market operator. We have not actually engaged the bulk trader who’s our counterparty of the PPA.”