FCCPC Advocates for Unified Consumer Protection in Power Sector

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Mr. Tunji Bello, stated that the implementation of the Electricity Act, 2023, has transformed Nigeria's electricity regulatory framework by allowing states to create their own electricity regulatory commissions.

Bello made these remarks during a stakeholder engagement on Consumer Protection and Regulatory Cooperation in Nigeria’s Electricity Sector at the FCCPC headquarters in Abuja. The meeting included officials from the Nigerian Electricity Regulatory Commission (NERC), Nigerian Electricity Management Services Agency (NEMSA), and State Electricity Regulatory Commissions (SERCs).

Bello emphasized that effective regulatory governance necessitates collaboration and information sharing among regulators to ensure consumer protection. Anthony Essien, Assistant Director and Head of Consumer Protection Department at NERC, highlighted the importance of regulatory convergence to protect consumers in Nigeria's evolving electricity markets, noting that while state markets bring regulation closer to consumers, inconsistent standards could challenge investors.