Nigeria’s electricity landscape is undergoing a major transformation as seven states—Enugu, Ondo, Ekiti, Imo, Oyo, Edo, and Kogi—officially assume full regulatory control over their electricity markets, in line with the Electricity Act 2023 signed into law by President Bola Tinubu. This landmark reform marks a shift from the long-standing, centrally managed electricity sector, giving sub-national governments the authority to independently generate, transmit, distribute, and regulate electricity within their jurisdictions. The Nigerian Electricity Regulatory Commission (NERC), previously the sole regulator, will now serve a diminished role, providing only oversight to states that haven’t transitioned. According to NERC, at least 11 states have begun the decentralisation process, with Lagos, Ogun, Niger, and Plateau expected to finalise their transitions between June and September. Anambra State has also passed its electricity law and is setting up its regulatory agency. While many experts and stakeholders have welcomed the move as a much-needed push towards true federalism, energy market competitiveness, and improved service delivery, concerns remain about state readiness. Industry insiders warn of capacity gaps, regulatory inexperience, and a lack of technical expertise that could hamper the success of the new state-managed electricity markets. “There’s a serious manpower issue,” a senior NERC official told The PUNCH. “States may not yet grasp the full implications of managing their own electricity markets, especially when it comes to technical operations like tariff setting or enforcement.” States are expected to create new electricity regulatory commissions to license operators and monitor distribution companies. In Enugu, the state has already begun enforcement, even sanctioning a local distribution firm, MainPower Electricity Distribution Ltd, for overbilling. Lagos has also made strides by issuing its first regulatory order under the Lagos State Electricity Regulatory Commission (LASERC), asserting control over all intrastate electricity activities. Consumer advocates have raised red flags about the possible creation of “regulatory vacuums” in states that have taken over without setting up solid frameworks. Others fear the politicisation of power pricing, subsidy management, and consumer protection. Still, proponents like PowerUp Nigeria’s Adetayo Adegbemle argue the reform is a necessary leap forward. “Decentralisation will open the door for private investment and tailored solutions to local electricity needs,” he said. “But states must act quickly to build institutions, protect consumers, and avoid regulatory confusion.” The development is being hailed as a step toward realising the economic potential of the country’s power sector, long plagued by inefficiencies and poor service delivery. Experts warn, however, that success will hinge on collaboration between state and federal actors, as well as a shared commitment to capacity building, transparency, and innovation.

Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), also known as petrol, to ₦945 per litre in Abuja and ₦915 per litre in Lagos, reflecting a new wave of cost hikes across the country’s deregulated fuel market. The upward revision follows Dangote Petroleum Refinery’s decision to raise its ex-depot price from ₦825 to ₦880 per litre, sparking a ripple effect. NNPC retail stations in Kubwa and Obasanjo Way in Abuja, as well as Igando and Badagry in Lagos, reflected the updated pricing on Monday, further compounding pressure on consumers amid steep living costs. Private fuel stations have also raised their prices in response. MRS now sells at ₦925 per litre, while TotalEnergies has adjusted to ₦910, and smaller independent marketers like Oluwafemi Arowolo Petroleum in Iba have gone as high as ₦920. Depot sources confirmed that major supply hubs, including Wosbab and NIPCO, are now selling PMS at up to ₦925 per litre, citing rising international crude prices and operational costs. Experts warn the price could cross ₦1,000 per litre if global crude exceeds $80 per barrel, amid heightened geopolitical tensions following US-Israeli strikes on Iran. “Unless Dangote keeps prices stable, depot owners will hike rates,” said Olatide Jeremiah of PetroleumPrice.ng. With inflationary pressures mounting, Nigerians now brace for deeper economic strain.