The year 2023 marked a decade, post-privatization of the power
sector and witnessed significant legislative milestones which began
with the enactment of the Constitution of the Federal Republic of
Nigeria (Fifth Alteration) Act, No. 33, 202 imbued states with
powers to legislate on electricity generation, distribution, and
transmission within areas covered by the national grid.
On its trail was the enactment of the Electricity Act, 2023
(Electricity Act) which establishes a comprehensive framework for;
the decentralisation of the sector, the promotion of renewable
energy, the grant of power sector licenses, establishment of an
Independent System Operator to unbundle the Transmission Company of
Nigeria (TCN) amongst others. Several other regulations were issued
by the apex regulator, the Nigerian Electricity Regulatory
Commission (NERC) to address concerns relating to power supply and
demand, remittances by market players, license issuance and
consumer interests.
