The Nigerian Electricity Regulatory Commission has called on investors to leverage existing regulatory frameworks to finance large-scale projects aimed at boosting electricity supply across the country.
The commission said the regulatory environment provided opportunities for bankable and sustainable investments as the Federal Government seeks to expand power generation capacity and improve access to reliable electricity for households and businesses.
NERC Chairman, Dr Musiliu Oseni, made the appeal 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 shared on NERC’s official X account on Thursday, the panel discussion centred on the theme, “Power Growth: Reliable Electricity for Industry and Prosperity”.
The statement read, “The Nigerian Electricity Regulatory Commission has called on investors to take advantage of existing regulatory frameworks to drive large-scale investments capable of improving electricity supply across the country.”
Terab said the commission had put in place regulatory frameworks to facilitate viable transactions and attract private investment into the electricity market.
He said the Federal Government was pressing ahead with efforts to liberalise the electricity sector through the Electricity Act and related regulations issued by NERC, in pursuit of its Vision 30:30:30 target.
The government is also promoting decentralised electricity supply models, including embedded generation, which allow power to be produced closer to the customers and communities that need it.
The approach is expected to open up additional investment opportunities beyond the traditional national grid-based supply system while improving access to reliable electricity for businesses and other consumers.
Other panellists stressed the importance of effective regulation, gas infrastructure and commercial discipline in developing a sustainable electricity market.
