The Nigerian Electricity Regulatory Commission (NERC) celebrated its 20th anniversary in Abuja and immediately urged the Federal Government to rethink the $2 billion REA fund.
Furthermore, the Commission called on the government to channel part of the fund toward solving chronic power shortages in industrial hubs.
NERC Call For Industrial Focus
Vice Chairman Dr Musiliu Oseni explained that mini-grids bring electricity to rural communities, but they cannot drive industrial growth.
He added that the government must invest in targeted solutions to strengthen electricity supply, boost productivity, and create jobs.
Reflecting On 20 Years
During the celebration, themed “Strengthening Power Sector Governance for a Sustainable Future,” NERC reflected on 20 years of reform.
Over the years, NERC has overseen privatisation, improved market governance, and saved the government trillions of naira in subsidies.
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Consequently, about 30% of electricity consumers now enjoy significantly better services than they did two decades ago.
However, Dr Oseni warned that transmission infrastructure still requires major investment, far beyond what the government can provide alone.
Looking Ahead
Therefore, he urged policymakers to enforce strong regulations that attract private capital and ensure long-term stability and efficiency in the sector.
Founded in 2005 under the Electric Power Sector Reform Act, NERC regulates tariffs and enforces industry standards.
Finally, ministers, senators, commissioners, and energy stakeholders gathered to celebrate NERC’s contributions and impact on Nigeria’s power sector.
