Overview
The 14th edition of PwC’s Annual Power & Utilities Roundtable convened a year after the signing of the Electricity Act (EA) 2023. Industry leaders, policymakers and regulators reviewed the implementation of the EA, its impact on Nigeria’s electric power sector, and other significant developments shaping the industry.
The discussions revealed critical gaps requiring urgent collaborative action to sustain reform momentum and unlock the power sector’s full potential.
The insights in this report is based on the transcription of the proceedings at the roundtable, with panellists’ and speakers’ responses edited for clarity and readability.
Panel discussion of industry power sector stakeholders
The panel discussion was moderated by Bimbola Banjo, Partner, Energy, Utilities and Resources, PwC Nigeria.
The moderator-led panel session featured: Mr Deolu Ijose (Benin Electricity Distribution Company), Dr Yusuf Ali (Nigerian Electricity Regulatory Commission), Mr Johnson Akinnawo (Nigerian Bulk Electricity Trading Plc) and Mr Akin Olagbende (Geregu Power Plc).
Key topics included progress on cost-reflective tariffs, the transformation of NBET into an energy exchange, metering initiatives and the decentralisation of regulatory oversight to states. Stakeholders examined challenges in tariff-setting, market transparency and the investment climate in Nigeria’s power sector.
Key outcomes:
The urgent need to depoliticise tariff-setting and enhance public education on cost-reflective tariffs and subsidies.
Metering projects to improve revenue collection and reduce technical and commercial losses.
The planned separation of the Transmission Company of Nigeria (TCN) into an Independent System Operator (ISO) to boost market efficiency.
Addressing financial and operational challenges from transferring regulatory roles to state agencies.
The consideration to transform the Nigerian Bulk Electricity Trading Plc (NBET) into an energy exchange to encourage transparency and foster competition in the wholesale electricity market.
Reforms in Nigeria’s power sector present significant opportunities for private investment and commercial growth. Continued collaboration among regulators, distributors, generators and policymakers remains essential to deliver affordable, reliable and sustainable electricity nationwide.
Contact us
