In a bid to navigate the challenges posed by the new Electricity Act 2023, states are taking proactive steps to identify strengths, weaknesses, opportunities, and threats within the new law.
The Nigeria Governors’ Forum (NGF) and the British High Commission are organising a roundtable with the theme “ Electricity Act 2023: Implications and Opportunities for State Electricity Markets’ in Abuja.
Recall that the Nigeria Electricity Act 2023 was signed into law on 9th June 2023 by President Bola Tinubu, de-monopolising Nigeria’s electricity sector.
Earlier in March 2023, former President Muhammadu Buhari had signed a constitutional amendment to
paragraph 14(b) of the Concurrent Legislative List removing the restriction on states from making laws on electricity generation, transmission, and distribution in areas covered by the national grid within their states.
According to a statement by the governors forum, the goal of the roundtable is to develop effective strategies to navigate emerging obstacles and ensure sustainable progress in the power sector.
The statement reads “ to identify strengths, weaknesses, opportunities, and threats linked to the new Electricity Act 2023, as well as strategies for navigating emerging challenges.
“To raise awareness around mechanisms in place at the NGF to support state electricity markets
“To take stock of ongoing state-specific initiatives in the Power sector.
“To explore regional and international best practice examples for implementing sub-national electricity markets from countries with relevant electricity market structures.
“To identify potential entry points for regional initiatives and collaboration going forward.
“To categorise states’ readiness for a market into Red, Yellow, and Green, each with an indicative assessment of gaps that need to be addressed.