Introduction
In recent years, Nigeria’s power sector has undergone a significant shift, from a centralized, government run monopoly to a more open and market-driven structure. This transition was largely motivated by the need for energy security, efficiency and improved service delivery.
Historically, the Federal Government of Nigeria (“FGN”) exercised exclusive control over the generation, transmission, and distribution of electricity managed by the former National Electric Power Authority (“NEPA”) and later the Power Holding Company of Nigeria (“PHCN”). However, persistent inefficiencies, low generation capacity, ageing infrastructure, poor access in rural and semi-urban areas, and rising fiscal burdens made it clear that government monopoly was unsustainable.
