The Nigerian Electricity Regulatory Commission (NERC) announced the commemoration of its 20th Anniversary, marking two decades of dedicated service in regulating and shaping the Nigerian Electricity Supply Industry (NESI).
The anniversary commemoration reflected the Commission’s remarkable journey.
This starts from the early challenges of its establishment, through the regulation of the unbundled power sector, the privatisation of key assets in the value chain, and the oversight of the Nigerian Electricity Market from the post-privatisation and Interim Market stages to the Transition Electricity Market, among other milestones.
Established on 31st October 2005 under the Electric Power Sector Reform Act (EPSRA) 2005 now replaced by the Electricity Act 2023, NERC has played a pivotal role in steering the evolution of Nigeria’s electricity market.
About NERC:
Nigerian Electricity Regulatory Commission (NERC) is an independent regulatory body with authority for the regulation of the electric power industry in Nigeria. NERC was formed in 2005 under the Obasanjo administration’s economic reform agenda through the Electric Power Sector Reform Act, 2005 (repealed), now the Electricity Act 2023 for the formation and review of electricity tariffs, transparent policies regarding subsidies, promotion of policies that are efficient and environmentally friendly, and also including forming and enforcing of standards in the creation and use of electricity in Nigeria.
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