FCCPC Calls for Unified Electricity Market Regulations

On Thursday, the Federal Competition and Consumer Protection Commission (FCCPC) cautioned that Nigeria's emerging state electricity markets could face investor uncertainty if they operate under varying regulatory standards. Mr.

Tunji Bello, Executive Vice Chairman and Chief Executive Officer of the FCCPC, made this statement during a stakeholders’ engagement on consumer protection and regulatory cooperation at the FCCPC headquarters in Abuja. He called for a harmonized consumer protection framework across the country, urging collaboration among federal and state electricity regulators to prevent weakened consumer protection and discourage investment.

Bello described the Electricity Act 2023 as a significant reform that allows states to establish independent regulatory commissions. He stressed that the success of these reforms relies on institutional collaboration rather than competition among regulators.

Bello highlighted the complementary roles of the Nigerian Electricity Regulatory Commission (NERC), the Nigerian Electricity Management Services Agency (NEMSA), and the FCCPC in ensuring consumer protection. He cited a successful regulatory collaboration regarding the suspension of the replacement of obsolete Unistar prepaid meters as an example of effective coordination.