The Nigerian Electricity Regulatory Commission (NERC) has urged investors to leverage existing regulatory frameworks to finance large-scale projects and improve electricity supply across the country.
The commission said its regulatory instruments provide opportunities for sustainable investments as the Federal Government seeks to expand generation capacity and improve access to reliable electricity for households and businesses.
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 on the commission’s official X handle, the discussion focused on the theme, “Power Growth: Reliable Electricity for Industry and Prosperity”.
Terab said NERC had established regulatory frameworks to support viable transactions and attract private capital into the electricity market.
He explained that the Federal Government was liberalising the sector through the Electricity Act and supporting regulations, in line with its Vision 30:30:30 target.
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He identified decentralised electricity models, including embedded generation, as opportunities to bring power production closer to customers and communities, reducing dependence on the conventional national grid.
Other panellists highlighted the need for stronger regulation, improved gas infrastructure and commercial discipline to build a sustainable electricity market.
The Managing Director of Abuja Electricity Distribution Company, Chijioke Okwuokenye, said regulatory support for embedded generation and net billing arrangements could accelerate renewable energy adoption.
Similarly, Elektron Managing Director, Deen Solebo, stressed the importance of strengthening gas-to-power infrastructure, noting that medium-scale power plants could serve specific locations and customer groups more efficiently.
The Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, called for a commercially viable electricity market where suppliers provide reliable power, and consumers pay for services received.
Nigeria’s power sector continues to face challenges, including inadequate generation, unreliable supply, and infrastructure constraints, which have increased operating costs for businesses and manufacturers.
