Victor EzejaThe Nigerian Electricity Regulatory Commission (NERC) says six states have been granted the authority to regulate their electricity markets.
The states are Enugu, Ekiti, Ondo, Imo, Oyo, and Edo.
Join our WhatsApp ChannelThis was made known in a statement posted on the Commission’s X handle on Tuesday.
“They have set up electricity regulatory agencies and will be regulating the electricity market in their respective States,” NERC stated.
The latest among the six states to get the transfer of regulatory oversight of the electricity market from NERC is Edo, as indicated in a statement released by the Commission on 20 August.
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The Commission in the statement signed by NERC Vice Chairman, Musiliu Oseni and Commissioner, Finance & Management Services, Nathan Shittu, said it can be cited as the ”Order of Transfer of Regulatory Oversight of the Electricity Market in Edo State from the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”) to the Edo State Electricity Regulatory Commission (“ESERC’).” The order took effect from 21 August 2024.
Similarly, that of Oyo was granted earlier this month.
Prime Business Africa recalls that the electricity regulatory body had in April declared that it has transferred the regulatory oversight of Enugu, Imo, Ekiti, and Ondo, which the respective state governments took over with effect from 1st May 2024.
The transfer of electricity market regulation to state authorities is in line with provisions of Electricity Act 2023.
Previously, the electricity market in Nigeria was previously centralised, but the move to decentralise it was achieved after an amendment of Electricity Act that was assented to by President Tinubu in March 2023.
However, NERC still exercises regulatory oversight of the Nigerian Electricity Supply Industry (NESI) as the apex sectoral regulator as stipulated in the Act.
The amendment granted legislative autonomy to states in Nigeria by empowering the sub-national governments to legislate on the generation, transmission and distribution of electricity within each respective state
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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