News
Four states get full electricity regulatory oversight — NERC
The Nigerian Electricity Regulatory Commission has completed the transfer of regulatory oversight to four states.
The states are Enugu, Ekiti, Ondo, and Imo, which are now fully responsible for the regulation of their electricity markets.
NERC made this known on its X handle on Monday, noting it has begun the transfer of regulatory oversight to 10 states as of 10th January 2025.
NERC stated: “As of January 10, 2025, #NERC has commenced the transfer of regulatory oversight to 10 states. Once the transfers are complete, the states will be responsible for regulating their electricity markets.
“The 10 states are: Enugu; Ekiti; Ondo; Imo; Oyo; Edo; Kogi; Lagos; Ogun; and Niger.
“The transfers have been completed for four states, namely Enugu, Ekiti, Ondo, and Imo, while six states are still in progress.”
The transfer, which is consequent upon the enactment of the 2023 Electricity Act (2023 EA), has altered the mode of operation that existed in the Nigerian Electricity Supply Industry since 2013.
There have been 11 electricity Distribution Companies (DisCos), namely: Abuja DisCo, Benin DisCo, Enugu DisCo, Eko DisCo, Ibadan DisCo, Ikeja DisCo, Kaduna DisCo, Kano DisCo, Jos DisCo, Port Harcourt DisCo, and Yola DisCo, aside from the 12th one, Aba Power Electric.
With the completion of the transfer of oversight in four states, the pre-existing market structures in Enugu DisCo, Benin DisCo, and Ibadan DisCo have been adjusted.
In time, in 2025, the other six states will incorporate their sub-companies to further change the electricity market structure.
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2025 Budget: Reps Panel Reject Envelop System Of Budget
…as it decry poor funding for Nigerian missions abroad
By Gloria Ikibah
The House of Representatives Committee on Foreign Affairs has criticized the Federal Government envelope system of budgeting, and stated that it lacks legal backing under Nigerian law.
The Committee also expressed dissatisfaction with the allocation of only ₦286 million to sustain Nigeria’s 109 foreign missions, describing the amount as grossly inadequate.
According to documents submitted by the Federal Ministry of Foreign Affairs, the Ministry had proposed a budget of about ₦1.5 trillion based on the needs of these missions.
During an interactive session with the Ministry and Budget Office of the Federation on Tuesday, the Committee Chairman, Rep. Wole Oke, expressed frustration and said, “I have not seen anywhere in our laws where envelop budgeting is mentioned.”
He described the proposed funding as insufficient for missions tasked with projecting the country’s image internationally.
“We’re concerned that what was submitted to Mr. President does not align with the actual needs assessment and is inconsistent with the law”, he added.
In response, Director General of the Budget Office, Tanimu Yakubu, stated that the allocation for foreign missions has been increased by 25 percent in the 2025 budget. He however, called on the National Assembly to pass the tax reform bills to enhance revenue generation.
Yakubu further suggested a temporary reduction in the number of Nigerian foreign missions, stating, “Why don’t we consider a significant reduction of our foreign missions until we’re able to improve our revenue?”
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