By Ijeoma Agudosi-Abuja
The Federal Government has set January 1, 2015 as the effective date for the beginning of all contractual obligations in the Nigerian electricity market.
Minister of Power, Prof. Chinedu Nebo, who announced this said that the main focus of the TEM would be the consummation of all contractual obligations as stipulated in the market rules.
He said the TEM declaration was not the start of the transition, but an attempt to make the market more mature and robust.
He called on all players to do their best, stressing that the Federal Government would not accept any excuse on why they were unable to provide Nigerians with uninterrupted power supply.
The minister said the Central Bank of Nigeria was ready, hence all market participants should perfect their papers in order to access cheap funds under the government’s intervention initiative.