The West African Power Pool (WAPP), is planning to create a Liquidity Enhancement Revolving Fund, LERF, for the ECOWAS Regional Electricity Market.
Chairman, Executive Board of WAPP, Engr. Dr. Sule Ahmed Abdulaziz, stated this at the weekend, during the 54th meeting of the Executive Board Meeting held in Cotonou, Benin Republic.
Engr. Abdulaziz who is the Managing Director, Transmission Company of Nigeria, TCN, said, “The review and adoption of the documents proposed by the Task Force on the creation of the Liquidity Enhancement Revolving Fund (LERF).
“The creation of this fund will provide the ECOWAS Regional Electricity Market with a very important tool for electricity trading by reducing the level of outstanding bills, thereby providing stakeholders in the trade with a high degree of robustness and sustainability,” he stated.
Abdulaziz, according to a statement yesterday, lauded the well documented 2021 financial statement of the organisation.
“When I look at the financial statement, I get the feeling that the WAPP is working hard and is quite transparent as shown by the independent audit, this attests that the financial statements are regular, sincere, and in accordance with international standards,” stated Abdulaziz.