The Federal Government of Nigeria has begun the transfer of electricity regulatory oversight industry to ten states as of January 10, 2025.
The Nigerian Electricity Regulatory Commission, NERC, disclosed this in a statement posted on its official X account on Monday.
According to NERC, the transfer of regulatory oversight has been completed for four states, including Enugu, Ekiti, Ondo, and Imo.
Meanwhile, for six states, namely Oyo, Edo, Kogi, Lagos, and Ogun, the transfer of oversight is in progress as of January 10, 2025.
“As of January 10, 2025, NERC has commenced the transfer of regulatory oversight to 10 states. Once the transfers are complete, the states will be in charge of regulating their electricity markets.”
“The transfers have been completed for 4 states, namely Enugu, Ekiti, Ondo, and Imo, while 6 states are still in progress”.
This means that Enugu, Ekiti, Ondo, and Imo states can completely regulate their electricity markets, including tariff fixing.
The development is in compliance with the 2023 Electricity Act, which authorized the liberalization of the country’s power sector.