Mkpoikana Udoma
Port Harcourt — The Nigerian Electricity Regulatory Commission, NERC, has expressed readiness to explore financial technology solutions that could improve payment systems and liquidity in Nigeria’s electricity market.
This followed a courtesy visit by the management of eTranzact International Plc to the Commission’s headquarters in Abuja.
Welcoming the delegation, NERC Chairman, Musiliu Oseni, reaffirmed the Commission’s commitment to supporting innovations capable of enhancing operational efficiency and service delivery across the Nigerian Electricity Supply Industry, NESI.
Oseni noted that technology-driven payment solutions could help strengthen market liquidity and improve overall performance in the electricity sector.
The eTranzact delegation, led by its Managing Director and Chief Executive Officer, Niyi Toluwalope, presented a suite of fintech products designed specifically for the power sector.
Among the solutions highlighted was a platform that would enable electricity consumers to purchase power and make payments in instalments, alongside other digital payment and settlement systems aimed at improving efficiency within the market.
Both organisations expressed willingness to explore collaborative pathways that would leverage financial technology to strengthen payment frameworks, improve revenue assurance and support the long-term sustainability of the electricity market.
NERC said the initiative aligns with its mandate to promote a transparent, efficient and reliable electricity market under the Electricity Act 2023.
The Commission is the independent regulator responsible for overseeing the interstate electricity market and related activities within the Nigerian Electricity Supply Industry.
eTranzact International Plc, on its part, is a Nigerian fintech firm that provides digital payment infrastructure and electronic invoicing solutions aimed at supporting businesses and public sector institutions.
