November 28, 2022

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WAPP to create liquidity enhancement fund – TCN MD


The West African Energy Pool (WAPP), is planning to create a Liquidity Enhancement Revolving Fund, LERF, for the ECOWAS Regional Electrical energy Market, Chairman, Govt Board of WAPP, Engr. Dr. Sule Ahmed, has stated

Abdulaziz, who can also be the Managing Director of the Transmission Firm of Nigeria (TCN), stated the creation of the fund will present the ECOWAS Regional Electrical energy Market with a vital software for electrical energy buying and selling that would cut back the extent of excellent payments.

In accordance with him, it might additionally present stakeholders within the commerce with a excessive diploma of robustness and sustainability.

A press release issued in Abuja on Wednesday by the TCN’s Common Supervisor, Public Affairs, Ms. Ndidi Mbah, stated Abdulaziz acknowledged these on the weekend, through the 54th assembly of the Govt Board Assembly held in Cotonou, Benin Republic.

Abdulaziz stated, “The evaluate and adoption of the paperwork proposed by the Process Drive on the creation of the Liquidity Enhancement Revolving Fund (LERF). The creation of this fund will present the ECOWAS Regional Electrical energy Market with a vital software for electrical energy buying and selling by lowering the extent of excellent payments, thereby offering stakeholders within the commerce with a excessive diploma of robustness and sustainability.”

Talking additional, he urged the members to look at the paperwork fastidiously and make related feedback on the paperwork proposed by the WAPP Finance Committee. 

The WAPP chief additionally lauded the well- documented  2021 monetary assertion of the organisation.

“Once I have a look at the monetary assertion, I get the sensation that the WAPP is working onerous and is sort of clear as proven by the impartial audit, this attests that the monetary statements are common, honest, and in accordance with worldwide requirements,” acknowledged Abdulaziz.

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In his remarks, the Secretary Common of WAPP Govt Board, Siengui Ki Apollinaire, emphasised that the newest monetary statements had been declared clear.

He stated, “The 2021 finances was executed transparently

and rigorously, and it’s with pleasure that I announce that the 2021 consolidated monetary statements of our group have been declared common, honest, and

compliant with worldwide requirements by a well-known  impartial auditor”

Ki expressed gratitude to Mr. Patrice Talon, President of the Republic of Benin, for the hospitality prolonged to the group and for internet hosting the assembly.

The members additionally noticed a minute of silence for the late Dr. Joseph Makoju, an honorary member from Nigeria who handed away in April this 12 months, for his contributions to the event of WAPP.