NERC partners eTranzact on financial technology for power sector

The Nigerian Electricity Regulatory Commission (NERC) says it will partner with partner eTranzact International Plc on financial technology to enhance liquidity in the power sector.

Mr Musiliu Oseni, NERC Chairman, made the disclosure in a statement published on the commission’s website in Abuja on Monday.

Oseni said that the partnership agreement was reached when he received the management team of eTranzact in his office.

According to him, both organisations expressed readiness to explore collaborative pathways that will leverage financial technology to strengthen payment systems, improve revenue assurance, and drive overall market sustainability.

”We are dedicated to supporting innovations that enhance liquidity, operational efficiency, and service delivery across the Nigerian Electricity Supply Industry (NESI).”

The eTranzact delegation, led by its Managing Director, Mr Niyi Toluwalope, presented a set of financial technology solutions tailored to the power sector.

Among the solutions highlighted by the team was a platform designed to enable electricity consumers purchase power and make payments in installments

The eTranzact delegation also highlighted other digital payment and settlement solutions aimed at improving market efficiency in the sector.