NISO Review Outstanding Market Obligations Of The DisCos.

The Nigeria Independent System Operator (NISO) has concluded a significant public hearing with the Nigerian Electricity Distribution Companies (DisCos) on their outstanding obligations to the Nigerian Electricity Market and service providers.

The engagement, which began on Tuesday, 1st and ended 4th September 2026, provided an opportunity for NISO to review the outstanding market obligations of the DisCos and examine payment arrangements aimed at addressing balances that have continued to impede the effective functioning and development of the Nigerian Electricity Market.

Following extensive deliberations, the payment proposals presented by some of the DisCos were considered unacceptable to NISO at the hearing, particularly in view of the magnitude and age of the outstanding obligations.

The hearing, conducted by a five-member committee chaired by the Executive Director, Market Operations, Engr. Dr. Edmund Eje, expressed concern over the proposed payment frameworks presented by some DisCos for the liquidation of their outstanding market obligations.

The Committee noted that the Federal Government had magnanimously netted off approximately 97 per cent of the DisCos’ outstanding obligations for the period 2015–2020, and consequently stressed the need for the affected DisCos to take immediate steps towards liquidating their remaining balances.

NISO will therefore proceed with the next steps, including the application of applicable sanctions as provided under the Market Rules, while maintaining its commitment to constructive engagement, transparency and due process.

The engagement underscores the critical importance of market discipline, compliance and accountability among market participants, as well as continued collaboration in strengthening market confidence and ensuring the sustainability and effective functioning of the Nigerian electricity market.

Comments

Post a Comment

Popular posts from this blog

What We Found Should Make Nigerians Cry’ – NAFDAC Uncovers ‘Death Warehouses’ In Lagos

Image
The National Agency for Food and Drug Administration and Control (NAFDAC) has uncovered what it described as one of the worst counterfeit medicine operations in recent years, seizing over 10 million doses of fake and banned drugs hidden in warehouses in Lagos State.  The agency said the illicit products, valued at over ₦3 billion, were recovered from multiple warehouse structures located around the Trade Fair–Navy axis of the state. Briefing journalists in Lagos NAFDAC’s Director of Investigation and Enforcement and Chairman of the Federal Task Force on Fake and Substandard Products, Martins Iluyomade, said the discovery followed intelligence gathered during a training meeting held on February 3. “Acting on information from that meeting, our team visited the location and found multiple warehouse structures built like residential houses but used solely for storage,” Iluyomade said. He noted that the area was largely deserted, which likely allowed the syndicate to operate undetected....
Read more

Major General Adeniyi Oyebade Marks Another Year.

Image
  The Management and Staff of X-Ray News join family and friends to celebrate our amiable mentor, Major Gen. Adeniyi Oyebade (rtd) as he adds another year. We pray for God's continued blessings upon him as we wish him more years of graceful aging. Sir, may God continue to favour and protect you for your continuous love and assistance towards humanity. More respect, Sir.
Read more

ExxonMobil Visits NUPRC, Considers FID On $8bn Owowo Project Early Next Year

Image
Following a high-level discussions with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, ExxonMobil has signalled plans to take a final investment decision (FID) on its $7bn–$8bn Owowo deepwater project as early as next year.  in a statement by Eniola Akinkuotu, Head Media and Corporate Communications, he stated that indication emerged during a visit by ExxonMobil executives to the Commission’s headquarters, where the company briefed regulators on its renewed multi-billion-dollar investment pipeline in Nigeria’s offshore sector. Speaking during the engagement, ExxonMobil’s Senior Vice President, Deepwater, Hunter Farris, said the company’s confidence in Nigeria had been strengthened by improvements in the country’s investment climate, prompting a strategic recommitment to upstream operations. Farris disclosed that the Owowo field, estimated to hold about one billion barrels of recoverable resources, is progressing toward an FID timeline targeted for early nex...
Read more