The Federal Government has inaugurated a nine-member inter-agency committee to address emerging policy, regulatory and operational issues arising from the decentralisation of Nigeria’s electricity market.
This, according to the FG, is aimed at ensuring a seamless transition to a more efficient and coordinated power sector.
THE WHISTLER reports that 16 states have formally taken control of their interstate electricity market under the 2023 Electricity Act.
According to the Act, a state can regulate its electricity market once it sets up a functional regulatory agency and satisfies the Nigerian Electricity Regulatory Commission (NERC’s) requirements.
The Minister of Power, Olasunkanmi Tegbe, announced the composition of the committee at a high-level workshop on legal, policy and regulatory harmonisation between federal and state institutions on the Decentralisation of the Nigerian Electricity Supply Industry (NESI), in Abuja.
The workshop was organised by the Federal Ministry of Power in collaboration with the Nigerian Electricity Regulatory Commission (NERC).
The minister, who chairs the committee, explained that its objective is to drive sustained engagement, resolve emerging implementation issues, and support the seamless operationalisation of the Electricity Act, 2023.
He stated that the committee has a four-week duration to review issues raised at the meeting.
According to him, members of the committee would work with other stakeholders and share a resolution within the time frame.
The minister said Nigeria’s transition to a decentralised electricity market is one of the most significant reforms in the power sector in decades.
He said: “Its success will depend not on institutional competition, but on collaboration, regulatory certainty, and our shared commitment to delivering better outcomes for Nigerians.
We must make the Nigerian Electricity Supply Industry succeed.
“Electricity remains the single most important enabler of economic growth, industrialisation, job creation, digital transformation and improved quality of life. Every sector of our economy depends upon it: Manufacturing, Agriculture, Mining, Financial Services, Telecommunications and Information Technology, to mention but a few.
“Indeed, every national aspiration under the Renewed Hope Agenda rests upon the availability of reliable electricity. The responsibility before us, therefore, extends beyond institutional mandates.
“It is a national obligation. The decentralisation of the electricity market should not be viewed as fragmentation. It should rather be understood as the intelligent distribution of responsibilities within one integrated national electricity ecosystem.
“I am encouraged by the constructive engagement of all stakeholders, including the decision to deepen consultations as we continue to strengthen the implementation framework.
“Together, we are laying the foundation for a modern, reliable, and investor-friendly electricity market that delivers improved service, attracts investment, and powers Nigeria’s economic growth”.
(The Whistler)
