Understanding NERC’s Transfer of Regulatory Oversight to States: Ekiti, Imo, Ondo
The Nigerian Electricity Regulatory Commission (NERC) has completed the transfer of regulatory oversight of the electricity market to four states: Enugu, Ekiti, Ondo, and Imo. This move empowers these states to independently regulate their electricity markets, marking a significant shift in Nigeria’s electricity supply industry.
This transition is in line with the 2023 Electricity Act, which allows states to establish and regulate their own electricity markets. NERC has also initiated the transfer process for six additional states: Oyo, Edo, Kogi, Lagos, Ogun, and Niger. Once completed, these states will also assume full regulatory responsibilities over their respective electricity markets.
The decentralization of regulatory oversight is expected to enhance efficiency, promote local solutions to electricity challenges, and encourage investments in the power sector at the state level. This development signifies a transformative period in Nigeria’s electricity supply industry, fostering a more localized approach to electricity regulation and management.
For a more detailed overview, you can watch the following video: