The Federal Government, PwC Nigeria, and key industry stakeholders have underscored the need for stronger collaboration among regulators and operators to improve electricity supply across the country.
This agreement emerged during PwC Nigeria’s 15th Annual Power and Utilities Roundtable, where sector leaders discussed priority actions required to effectively implement Nigeria’s ongoing power sector reforms.
The forum,themed “Nigeria’s Multi-Tier Electricity Market: Imperatives for Successful Evolution,” examined the practical steps needed to operationalise the Electricity Act 2023.
Speaking at the roundtable, Minister of Power Adebayo Adelabu said the sector has “entered a new phase defined by decentralisation, liberalisation, market and tariff reforms, and a shift from a single national market to a multi-tiered, multi-actor electricity ecosystem.”
According to him, the Electricity Act 2023 has transformed the industry by empowering sub-national governments to collaborate with private investors to generate, transmit, and distribute power within their jurisdictions.
“Today, Nigeria has state electricity markets at different stages of development, creating new opportunities for innovation and investment,” he said.
Also speaking, Pedro Omontuemhen, Partner and Leader for Energy, Utilities and Resources at PwC Nigeria, noted that the success of the multi-tier market hinges on the practical application of reforms.
“With the implementation of the Electricity Act 2023 and recent policy developments, states are now exercising their new powers. The success of this market will depend on how effectively these reforms are applied,” he said.
He added that decentralisation is vital for meeting Nigeria’s electrification and sustainability goals, stressing the need for clarity in stakeholder roles, collaboration, and regional coordination across neighboring states to strengthen sector oversight.
Earlier, Bimbola Banjo, Partner, Energy and Resources at PwC Nigeria, highlighted the shifting competitive landscape in the Nigerian Electricity Supply Industry (NESI).
“In a liberalised and increasingly sub-nationally regulated market, the basis of competition across the value chain is being fundamentally rewritten,” she said.
Banjo explained that new regulatory frameworks ,such as state-level licensing, sub-franchise models, and the separation of distribution and supply, are reshaping the structure of the sector and challenging long-held assumptions about exclusive territories.
She noted that for DisCos, GenCos, and other market players to thrive, they must prioritise commercial agility, customer satisfaction, and innovation supported by artificial intelligence (AI) and business model reinvention(BMR).
