The Nigerian Electricity Regulatory Commission (NERC) has urged investors to take advantage of existing regulatory frameworks to fund large-scale projects and improve electricity supply across the country.
The commission said the Federal Government’s ongoing electricity reforms had created opportunities for private investment in power generation and decentralised electricity supply.
NERC Chairman, Dr Musiliu Oseni, made the call through the commission’s Director of Economic Regulation, Abba Terab, during a panel session at the 32nd Nigerian Economic Summit in Abuja.
According to a statement shared on NERC’s official X account, the session focused on the theme, “Power Growth: Reliable Electricity for Industry and Prosperity.”
Terab said regulatory instruments introduced under the Electricity Act 2023 were designed to attract private capital and support viable investments in the sector.
He highlighted embedded generation, which allows electricity to be produced closer to consumers, as an alternative to relying solely on the national grid.
Other panellists stressed the need for stronger gas infrastructure, effective regulation and a commercially sustainable electricity market.
The Managing Director of Abuja Electricity Distribution Company, Chijioke Okwuokenye, highlighted the potential of embedded generation and net billing to support renewable energy adoption.
Meanwhile, Elektron Managing Director, Deen Solebo, called attention to the importance of gas-to-power infrastructure and medium-sized power plants in providing electricity to specific communities and businesses.
The Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, said reliable electricity supply and timely payment for power were essential to building a sustainable electricity market.
Nigeria continues to face electricity supply challenges that increase operating costs for businesses and force many manufacturers to depend on alternative power sources.
The Electricity Act 2023 provides a framework for greater participation by state governments and private operators in the electricity market.
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