Power Sector Updates - May 2026

This update highlights recent regulatory and market developments in Nigeria’s power sector, including Lagos State’s ongoing transition towards a cost- reflective electricity market and the key implications for electricity sector participants. The update also captures recent regulatory interventions by the Nigerian Electricity Regulatory Commission (“NERC”), including the revised Health and Safety Code for the Nigerian Electricity Supply Industry and the revised Metering Code, both aimed at strengthening safety practices, metering compliance, and accountability across the electricity value chain.

These developments reflect the broader transition within Nigeria’s electricity sector as states assume a more active role in regulating intrastate electricity markets and implementing reforms aimed at improving the financial sustainability and operational efficiency of the sector.