NERC woos investors to expand power generation

The Nigerian Electricity Regulatory Commission has called upon investors to utilize existing regulatory frameworks to fund large-scale projects and enhance electricity supply nationwide. Commission Chairman Dr Musiliu Oseni emphasized this during a session at the 32nd Nigerian Economic Summit in Abuja, as reported by the commission’s Director of Economic Regulation, Abba Terab.

The focus of the discussion was "Power Growth: Reliable Electricity for Industry and Prosperity." Terab explained that NERC has established regulatory tools to facilitate viable transactions and private capital influx into the electricity market. The Federal Government is pursuing liberalization via the Electricity Act and NERC's supporting regulations, aiming for a Vision 30:30:30 target.

This includes encouraging decentralized electricity models like embedded generation, which can provide power closer to consumer locations and improve reliability. Other panelists stressed the importance of regulation, gas infrastructure, and commercial discipline for a sustainable electricity market.