FCCPC urges unified rules for state electricity markets
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned that inconsistent regulations in Nigeria’s state electricity markets could create uncertainty for investors and weaken consumer protection. Tunji Bello, Executive Vice Chairman of the FCCPC, emphasized the need for collaboration among federal and state regulators during a stakeholder meeting in Abuja. He highlighted the importance of a harmonised consumer protection framework as Nigeria implements the Electricity Act 2023. Other regulatory leaders echoed calls for coordination to avoid confusion and ensure investor confidence.
TLDR
- FCCPC warned that fragmented state electricity regulations could discourage investment and weaken consumer protection.
- Tunji Bello called for closer cooperation among the FCCPC, Nigerian Electricity Regulatory Commission (NERC), Nigerian Electricity Management Services Agency (NEMSA), and state regulators.
- The suspension of the proposed replacement of obsolete Unistar prepaid meters in 2024 was cited as a successful example of regulatory collaboration.
- Stakeholders noted that the Electricity Act 2023 has led to the creation of 16 state electricity regulatory commissions, making coordination essential.
- Regulatory leaders stressed that unified standards would reduce compliance burdens for investors and protect consumers across Nigeria.
