Speech by NERC Chairman During Inauguration of Forum of Nigerian Electricity Regulators

SPEECH DELIVERED BY NERC CHAIRMAN AT THE INAUGURATION OF THE FORUM OF NIGERIAN ELECTRICITY REGULATORS ON THE 25TH MARCH 2026

Protocols…

Distinguished Colleagues

Chairmen, CEOs and other Commissioners of SERCs

Gentlemen of the Press

Ladies and Gentlemen

With profound gratitude to Almighty God, I am deeply honoured to welcome you to the inauguration of this esteemed Forum of Nigerian Electricity Regulators (“FoNER”). We gather today not merely to witness the formal inauguration of a body, but to architect the future of our industry.

2. Electricity is the oxygen for economic growth and prosperity. Unfortunately, our industry is fraught with varying challenges which required effective coordination and synergy among the captains of the industry. As regulators, we are often regarded as arbiter of the industry, but our mandate goes deeper—we are drivers of innovation, investment and economic growth, guardians of consumer protection and protector of overriding public interests. This Forum is established to ensure effective collaboration between federal and state electricity regulators and ensure consistent regulatory frameworks, safeguard consumer interests, promote investment, and strengthen the technical and institutional capacity of electricity regulators in Nigeria.

3. The journey to this moment has been deliberate and structured. Following several deliberations with stakeholders pursuant to the provisions of the Electricity Act (“EA”) 2023, a Technical Working Group (“TWG”) was eventually constituted on the 26th September 2025, comprising representatives from NERC and SERCs, with the Secretary to the Commission (NERC) serving as Ex-Officio Secretary. The mandate was clear: “design an institutional framework to enable coordination, coherence and regulatory alignment across jurisdictions”.

4. The TWG convened its inaugural meeting on the 11th November 2025 and established a Technical Committee to develop a draft Charter. The Draft Charter was presented at the Q4 2025 Regulatory Meeting held on the 1st December 2025, and subsequently circulated for comments. Submissions from the State Regulators were rigorously reviewed and integrated to ensure consensus, inclusivity and operational clarity.

5. A validation workshop was convened on the 24th February 2026, culminating in the finalisation of the Charter on the 2nd of March 2026. Let me, on behalf of the Commission, seize this opportunity to commend the members of the TWG and other stakeholders who have worked tirelessly to ensure that this journey become a success. Without you, we won’t be here today!

6. With the signing of the Charter today, the Forum now transitions from concept to institution. The objectives of the Forum are clear. We intend to advance coordinated and coherent electricity regulation across Nigeria by –

a. Facilitating dialogue between NERC and SERCs on regulatory issues.

b. Promoting harmonised regulatory approaches in tariff setting, market operations, and consumer protection.

c. Supporting professional development through joint capacity-building and peer learning.

d. Serving as a consultative platform for electricity market reforms and sector alignment.

e. Advancing transparency, accountability, and national regulatory benchmarks.

7. Inaugurating this Forum means embracing the obligation to shape our industry for prosperity through coordinated regulatory actions. We must create an environment where regulatory ideas are incubated, transparency is dominant, investments and customer protection are prioritised, and disputes are resolved through constructive dialogue rather than protracted litigation.

8. Dear esteemed colleagues, this Forum is not a ship without a rudder. It is a commitment to action. The challenge facing our industry is often reduced to a specific segment of the value chain: generation, transmission or distribution problem. However, this reductionism is misleading – the key issue is: we have an electricity market problem! The main question is not how much power can we generate? Rather, the key question is: how can our market operate sustainably? Addressing this key question is critical to addressing the challenges facing our industry, and is key to our shared responsibility of driving economic prosperity. We must work collaboratively to avoid regulatory arbitrage by the operators. I charge all of us to carry out this mandate with the highest sense of responsibility.

9. Pursuant to Section 230(9) of the EA 2023, I hereby declare the Forum of Nigerian Electricity Regulators duly inaugurated.

Thank you for listening and God bless!

Musiliu O. Oseni