Following the conclusion of the sale of the assets of the Power Holding Company of Nigeria (PHCN) to private investors, regulation of the sector has come under the spotlight.
Analysts have come unwavering with the type of regulatory actions required to make a success of the electricity market, which is now fully private sector driven, few days after all but one of the 14 preferred bidders for the successor companies of PHCN paid up for the electricity company’s assets.
“We need a regulator that is independent and has experts in various areas including engineering, law, among others. We also need a regulator well equipped for the future. Further, we need one, which would continuously co-operate with the gas regulators as you can hardly speak about electric power in Nigeria without making reference to gas. Issues relating to adequate staffing should also be given the care it requires,” Ayodele Oni, an energy law and policy expert and senior associate in top law firm, Banwo & Ighodalo, said.
That will be the focus, because from August 21, 2013, the country’s electricity sector becomes fully deregulated, and electricity deliveries consequently have been opened to competition.
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