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ARTICLE · 05 SEPTEMBER 2025

Corporate Governance Code For The NESI: Implications For Power Sector Licensees

Tope Adebayo LP
Tope Adebayo LP
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Pursuant to Sections 34 and 226(1) of the Electricity Act 2023 (the "Act"), the Nigerian Electricity Regulatory Commission ("NERC") published the Code of Corporate Governance...

NigeriaCorporate/Commercial Law
Aderemi Ogunbanjo
Aderemi Ogunbanjo
Sandra Osinachi-Nwandem
Sandra Osinachi-Nwandem
Olawunmi Abiola
Olawunmi Abiola
Eyitayo Ajisafe
Eyitayo Ajisafe
Omowonuola Oluwayinka
Omowonuola Oluwayinka
Author LinkedIn connections

INTRODUCTION

Pursuant to Sections 34 and 226(1) of the Electricity Act 2023 (the "Act"), the Nigerian Electricity Regulatory Commission ("NERC") published the Code of Corporate Governance for the Nigerian Electricity Supply Industry (the "Code") on May 30, 2025. The aim of the Code is to promote accountability and transparency of Licensees within the Nigerian Electricity Supply Industry ("NESI"), thereby restoring stakeholder confidence and attracting the much-needed investment for sustainable growth.

In this article, we juxtapose the Code with the Nigerian Code of Corporate Governance 2018 ("NCCG"), highlighting key improvements and sector-specific enhancements introduced under NERC's framework.

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