The Federal Competition and Consumer Protection Commission (FCCPC) is pushing for increased cooperation between power sector regulators to guarantee consistent consumer safeguards and regulatory stability. This initiative follows the recent shift toward decentralized power markets, where individual states are now authorized to establish their own regulatory frameworks under the Electricity Act of 2023.
Tunji Bello, the CEO of the FCCPC, explained that the new legislation empowers states to manage their own electricity sectors. He emphasized that as these state-level bodies emerge, they must work closely with federal entities like the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA). While each agency holds specific legal responsibilities, Bello noted that these roles should be aligned to maximize consumer welfare.
Bello pointed to the successful 2024 intervention regarding the replacement of outdated Unistar prepaid meters as proof that collaborative oversight works. By working alongside NERC and distribution companies, the commission protected users from unfair costs and supply issues without stepping on other regulators’ mandates. Anthony Essien of NERC added that while local oversight is beneficial, inconsistent state rules could confuse investors. Harmonizing these standards remains vital for a stable, national electricity market.