By Peter.
At PwC Nigeria’s 15th Annual Power & Utilities Roundtable, themed “Nigeria’s Multi-Tier Electricity Market: Imperatives for Successful Evolution”, the Federal Government, regulators, DisCos, GenCos and investors unanimously agreed: only seamless collaboration between federal, state and private players will deliver the reliable, affordable power Nigerians deserve.
Power Minister Adebayo Adelabu declared the Tinubu administration’s vision crystal clear:
“The Electricity Act 2023 has fundamentally changed the game. We have moved from one national market to a multi-tier, multi-actor ecosystem. States can now generate, transmit and distribute power within their territories. This decentralisation is the cornerstone of the Renewed Hope Agenda in power.”
Key Takeaways from the Roundtable
- States are now co-regulators and market creators
- Lagos, Edo, Enugu, Ondo, Ekiti, and others have either launched electricity markets or are at advanced stages.
- Collaboration is non-negotiable
- PwC’s Pedro Omontuemhen (Energy Leader):
“Success will depend on clarity of roles, collaborative regulation, and regional coordination among neighbouring states. Without this, the multi-tier market will stumble.”
- PwC’s Pedro Omontuemhen (Energy Leader):
- The rules of competition have changed forever
- PwC’s Bimbola Banjo:
“Exclusive territories are dying. Sub-franchise models, state licensing, and separation of distribution & supply mean DisCos and GenCos now compete on operational excellence, customer satisfaction, AI-driven efficiency, and business model reinvention — not regulatory protection.”
- PwC’s Bimbola Banjo:
- What winners must do now
- Embrace AI for predictive maintenance, theft detection, and customer service
- Reinvent business models (metering-as-a-service, mini-grid partnerships, embedded generation)
- Build state-federal bridges for tariff harmonisation and grid discipline
- Prioritise customer-centricity in a market where consumers can soon choose suppliers
The message from the roundtable is unmistakable: Nigeria’s power sector has been legally and structurally transformed. The next 12–24 months will separate the institutions that adapt, collaborate and innovate from those that cling to the old single-buyer model.
The light at the end of the tunnel is brighter — but only if everyone walks together.
#NigeriaPowerReforms #ElectricityAct2023 #MultiTierMarket #StateElectricityMarkets #PowerSectorCollaboration
