The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Musiliu Olalekan Oseni, has said Nigeria’s electricity challenges go beyond problems in power generation, transmission and distribution.
The NERC boss stated that the sector’s biggest challenge is the inability of the electricity market to function in a sustainable manner.
Oseni made the statement during the inauguration of the Forum of Nigerian Electricity Regulators (FoNER).
He said focusing only on individual parts of the electricity value chain does not address the real issue affecting the industry.
According to him, the country needs a well-coordinated electricity market that supports reliable power supply, attracts investment and promotes long-term growth.
He explained that the major concern should not be the amount of electricity produced, but how the market operates to ensure efficiency and sustainability.
The NERC chairman urged regulators at both the federal and state levels to work together in implementing reforms.
He warned that poor coordination could create opportunities for market operators to exploit differences in regulatory systems.
Oseni said the newly inaugurated forum would strengthen cooperation among regulators, improve consumer protection and support policies that encourage investment in the power sector.
He added that the platform would help create a more unified regulatory environment across the country.
He noted that Nigeria’s electricity sector continues to face several challenges, including inadequate funding, ageing infrastructure and differences in regulatory approaches across states. These issues, he said, continue to affect the performance of the power industry.
Describing electricity as a key driver of economic development, Oseni stressed the need for stronger collaboration among stakeholders.
He said effective coordination and responsible regulation are necessary to build a stable electricity market capable of delivering reliable power supply and supporting national economic growth.
