The Chairman of the Nigerian Electricity Regulatory Commission(NERC), Musiliu Oseni, has said electricity regulators across the country will collaborate to prevent regulatory arbitrage in Nigeria’s power sector.
Oseni made the remark on Wednesday during the inauguration of the Forum of Nigerian Electricity Regulators in Lagos.
According to him, the forum was established to enhance coordination between federal and state electricity regulators while ensuring consistent and coherent regulatory frameworks across the industry.
Speaking at the event, Oseni described electricity as a critical driver of national development and economic prosperity.
“Electricity is the oxygen for economic growth and prosperity. Unfortunately, our industry is fraught with varying challenges that require effective coordination and synergy among the captains of the industry,” he said.
He noted that regulators play a vital role beyond enforcing rules, stressing that their responsibilities include promoting innovation, attracting investment, and safeguarding consumers.
“As regulators, we are often regarded as arbiters of the industry, but our mandate goes deeper—we are drivers of innovation, investment, and economic growth; guardians of consumer protection; and protectors of overriding public interests,” Oseni added.
The NERC chairman further explained that the newly established body would help promote regulatory alignment among institutions while strengthening the power sector’s institutional capacity.
Industry stakeholders believe the initiative could improve regulatory efficiency and foster a more stable electricity market in Nigeria.
