Federal Competition and Consumer Protection Commission. Photo: FCCPC
Electricity investors could face uncertainty if Nigeria’s emerging state electricity markets operate under different regulatory standards, the Federal Competition and Consumer Protection Commission warned on Thursday, calling for a harmonised consumer protection framework across the country.
The commission also urged closer collaboration among federal and state electricity regulators, warning that fragmented regulation could weaken consumer protection and discourage investment as Nigeria implements the Electricity Act 2023.
Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, made the call at a stakeholders’ engagement on consumer protection and regulatory cooperation in Nigeria’s electricity sector, held at the commission’s headquarters in Abuja.
The event brought together officials of the Nigerian Electricity Regulatory Commission, the Nigerian Electricity Management Services Agency and state electricity regulatory commissions following the establishment of sub-national electricity markets under the Electricity Act 2023.
