Power sector operators and experts have raised concerns, expressed fears and projected opportunities as some states assumed responsibilities for regulating electricity markets within their various domains.
This follows the recent revelation by the Nigerian Electricity Regulatory Commission that seven states now control their electricity markets in accordance with the Electricity Act 2023.
The states are Enugu, Ondo, Ekiti, Imo, Oyo, Edo, and Kogi. Other states, including Lagos, Ogun, Niger, and Plateau, are expected to complete their transitions between June and September.
Anambra, having recently passed its electricity law, is also gearing up to join the list. Before President Bola Tinubu signed the new Electricity Act in 2023 with the Federal Government, through the Nigerian Electricity Regulatory Commission, the only agency regulating electricity in Nigeria.
However, the decentralisation of the sector by the Act has now given states the authority to control and regulate electricity within their domains, granting them the freedom to generate, transmit, and distribute power.
