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The Federal Government through the Ministry of Power has suspended the transfer of regulatory oversight of the electricity market to state governments.
The Minister of Power, Adebayo Adelabu, disclosed this on Friday at the eighth edition of the Africa Energy Market Place (AEMP) Nigeria, in Abuja.
He disclosed that the Federal Government took this decision into consideration the need for state governments and stakeholders in the power sector to properly understand what is required to operate an electricity market.
Adebayo said: “We must tread carefully, we should not be in a hurry. The market is not mature, it is not mature enough. With everything centralised for a single regulator, we have a myriad of issues.
“Now we tend to create a regulatory framework across 36 states, it is something that we must do in a highly systematic and strategic manner. We need just a couple of states as a pilot, which is why I halted granting of further regulatory autonomy to states.”
