Overview of the current energy mix, and the place in the market of different energy sources
Nigeria is extremely rich in energy resources. It is the largest oil producer in Africa and the 6th largest in the World. Nigeria has an estimated oil reserve of about 37 Billion barrels; thereby making export in fossil fuels the Country’s major income generation mechanism since the discovery of Oil in large deposits in 1956. One would assume that with the identified large deposit of resources in Nigeria, the Country would have been able to harness these resources for the development of the Country. Till date however, about 60-70% of the Nigerian Population do not have access to electricity.
Despite the Country’s strong inclination towards non-renewable energy exportation and consumption, Nigeria boasts of generous renewable energy resources such as Solar, Wind, Biomass, and Small hydropower potentials. The Country presently uses a synergy of renewable and non renewable energy resources in the generation of the Country’s power.
The primary source of energy for the production of electricity in Nigeria remains Coal, Oil, Water and Gas. Nevertheless, the Nigerian market remains primed towards the exploitation of other energy sources to meet up with the Country’s ever increasing demand to cater for its population of over 196 million individuals. Presently, hydroelectric power systems and gas fired system takes precedence in Nigeria’s current energy mix.
The energy sources in Nigeria can be broadly categorised under Renewable & Non-renewable Energy.
The predominant non-renewable energy resources in Nigeria comprise of Fossil Fuel which includes; coal, oil and natural gas. These components of fossil fuels are used for the provision of energy with crude oil being the most widely used in Nigeria. Crude oil has historically accounted for ninety per cent (90%) of Nigeria’s foreign exchange earnings. The Country’s annual budget has always been benchmarked to oil price projections and the number of barrels sold. Daily average oil production had grown, since its commercial discovery to around 2.5 million barrels per day in 2012 (notwithstanding the periodic price shock in between that period) effectively signalling an over-extended oil boom.
The Nigerian National Petroleum Corporation (NNPC) is the apex oil regulatory body in the Country. It oversees the operation of all the subsidiaries in the Upstream, Midstream and Downstream sectors and regulates the marketing and distribution of crude oil. The NNPC was commercialised into 12 strategic business units which covers the entire oil industry operations. These operations include exploration & production, gas development, refining, distribution, petrochemicals engineering, commercial investments and products transportation.
Additionally, the industry is regulated by the Department of Petroleum Resources (DPR), which regulates the operations of the Oil industry, issues licences and ensures compliance with industry regulations as well as establishes & enforces environmental regulators.
Another key regulator in the Oil & Gas industry is the National Petroleum Investment Management Services (NAPIMS) the investment arm of the NNPC. It is charged with the responsibility of managing Nigerian Government’s investment in the Upstream sector of the Oil and Gas industry and administering NNPC’s Joint Venture Operations.
Nigeria’s Market for Oil & Gas
Nigeria’s Market for Oil & Gas has majorly been for external consumption. The Petroleum sourced in Nigeria has been termed “Light” and “Sweet”. This is because the oil is purportedly free of sulphur. Nigeria is the largest producer of ” Sweet” oil in the Organisation of the Petroleum Exporting Industries (OPEC). Nigeria has six (6) Petroleum Export Terminals in the Country owned by Shell, Mobil, Chevron, Texaco and Agip.
It is estimated that the demand and consumption of Petroleum in Nigeria grows at a rate of 12.8% annually. Nevertheless, Petroleum products remain unavailable and expensive to most Nigerians due to the fact that Crude Oil extracted in Nigeria is refined overseas and imported back to Nigeria for distribution in limited quantity.
From the foregoing, it is evident that local consumption of the crude oil derived is at an ultimate low in comparison to the amount exported to other countries.
The DPR reported that despite the meagre amount of petroleum products imported back into Nigeria for Local consumption, 78% of the total energy consumption in Nigeria is still derived from Oil & Gas. Thus, the recent dip in oil prices in March 2018 has left within its path, a rekindled understanding by the Nigerian Government of the need to shift total reliance on Crude Oil export and utilisation in the generation of power to other cheaper and conservative sources of energy generation.
The predominant renewable energy sources in Nigeria are Wind, Solar, Hydro and Biomass energy. These energy sources have been gravely under-utilised due to the heavy reliance on fossil fuel for power generation in Nigeria for the past 45 years.
Hydroelectric power systems and gas fired systems are the two main power generating systems used presently in Nigeria. The power sector has generated electricity through a mix of both thermal & hydro systems but the amount of power generated from these sources have reduced over time due to lack of infrastructure and poor maintenance of turbines and power generation mechanisms.
By the year 2020, Nigeria aims to generate an excess of 40,000 MW with an energy mix that constitutes 69% Thermal, 17% Hydro, 10% coal and about 4% renewable energy.
In recent years, there has been a shift in focus towards solar power generation and this is as a result of the clime in Nigeria. Over the past year, the country has invested more than $20 billion in solar power projects, seeking to boost the capacity of the National grid and reduce reliance on it by building mini-grids in rural areas without mains electricity. A $350 million World Bank loan will be used to build 10,000 solar-powered mini-grids by 2023 in rural areas, bringing power to hospitals, schools and households, according to the MD of the Rural Electrification Agency.
Furthermore, Nigeria has set a target of expanding electricity access to 75 percent of the population by 2020 and 90 percent by 2030. It aims to generate 30 percent of its total energy from renewable sources by 2030.
The aim of Nigeria’s Power sector over the years has remained to ensure effective transmission of power to all parts of the Country, despite the apparent lack of institutional and regulatory framework to streamline the sector’s progress and development. The Constant need to progress and provide uninterrupted power supply to Nigerians led to the privatisation of the nation’s power sector and the termination of the monopoly status of the Nigerian Electricity Power Authority (NEPA), which was the sole governing body of the entire power sector in Nigeria between 1972-2005.
NEPA was transformed into the Power Holding Company of Nigeria (PHCN) as a holding company for NEPA’s assets, liabilities, employees, rights and obligations pursuant to the passage of the Electric Power Sector Reform Act (EPSRA) in march 2005. This Act was established to drive the process of reforming the power sector.
Pursuant to the Act, 18 new successor companies comprising of 6 Generation companies (GenCo’s), Transmission Company of Nigeria (TCN) and 11 Distribution companies (DisCo’s) were incorporated. New agencies were also created to drive the institutional and regulatory framework of the privatised sector. These agencies composed of; The National Electricity Regulatory Commission (NERC), The Nigerian Electricity Liability Management Company (NELMCO) and The Nigerian Bulk Electricity trading Plc. (NBET).
Figure 2 below gives a pictorial glance into how Power is Generated in Nigeria.
Despite several attempts by the public and private agencies to promote the adoption of alternative energy sources in Nigeria, the cost of setting up renewable energy generation components remains ultimately high. The lack of technological expertise and skilled labour towards the implementation and running of Wind farms, thermal stations and hydroelectric renewable energy facilities is another challenge being faced in Nigeria.
Changes in the energy situation in the last 12 months which are likely to have an impact on future direction or policy
The Imposition of Import Duty on Solar Panels
The Nigerian Customs Service (NCS) imposed a 5-10% import duty on solar panels in March 2018, despite a Government directive that classifies solar panel importation as exempt from duty tariff.
Solar energy is adopted in Nigeria as a Renewable Energy (RE) source and has tremendously reduced noise and air pollution due to the displacement of diesel and petrol generators. The introduction of an import duty will increase the price of importing and sales of solar energy to uncompetitive levels. Globally, the cost of solar energy has declined leading to increased adoption by home and business owners. Therefore, if the import duty is imposed, Nigeria will stand to lose out on RE development since Nigeria does not currently have the capacity to manufacture solar panels and does limited assembly in volumes that cannot meet up to 10% of the market demand hence its recourse to importation while growing capacity locally.
Additionally, the tariff will increase acquisition cost of solar panels in Nigeria which are currently heavily delayed in rural areas where purchasing power is low and could derail Nigeria’s plan to generate 30% of electricity through renewable energy by 2030. Inadvertently, it would affect the ease of doing business in Nigeria and decrease energy access to 70 million people with inadequate access to power.
The N701bn Payment Assurance Guarantee
This initiative was created by the current government regime to give comfort to investors in the power generation arm of the value chain in order to enable them get a sizeable percentage of their money when they deliver power to distribution companies (DisCo’s) through the Transmission Company of Nigeria (TCN). Generation companies (GenCo’s) now feel safer that they could invest and realise money which will enable them pay their gas suppliers and which will also enable the gas suppliers pay their banks.
Since its implementation in 2017, recovery of payments by GenCo’s has increased from 20% to 80%, and power supply capacity has also improved from 4,000 megawatts to 7,000MW, according to the Minister of Power, Works and Housing.
According to the Minister, the Geregu I and Geregu II gas turbine power plant had only one turbine running in each of them out of three turbines combined, making the total six. Therefore, there was minimal capacity. Subsequently, following the implementation of the policy all three turbines are running due to gas supply.
Now, is the policy perfect? Certainly not. But one can say the GenCo’s will profit from it, considering the fact that they can now obtain more money for the power they produce, as opposed to when they got below 30 per cent of their invoice.
Developments in government policy/strategy/approach
National Renewable Energy Actions Plans (NREAP) 2016
In 2016, several Ministries, Departments, Agencies and representatives of the 36 states of the Federal Government developed the NREAP. It details plans to increase the use of alternative energies such as solar, wind and biomass. Through the NREAP the Government has made a commitment to incentivise large scale adoption of Renewable Energies in Nigeria.
The policy commits Nigeria to achieving 16% of its National electricity consumption from Renewable Energies by 2030 with the following proportion of energy consumption in the electricity sector coming from renewables: Small Hydropower (7.07%); Solar (5.90%); Biomass (2.78%); and Wind (0.25%). This compares to only 0.8% of renewable energy consumption in 2012.
The Government has pledged to encourage the Nigerian Bulk Electricity Trading Plc (NBET) and DisCo’s to buy the electricity offered to the electricity market from Renewable Energy sources. This however, will be done at a rate fixed by the the Nigerian Electricity Regulatory Commission (NERC) which will be responsible for the promotion and issuing of licenses to renewable energy operators.
Additionally, the NREAP offer tax incentives to GenCo’s who adopt the renewable energy. The policy, promises to grant financial aids, loans, grants for renewable energy projects and Feed-In-Tariff for Solar, Wind, Biomass & Small Hydro.
A hindrance to the adoption of Renewable Energy in Nigeria is the continued subsidy of fossil fuel energy. The Renewable Energy Association of Nigeria (REAN) has complained that the subsidy of fossil fuel energy is an unfair economic policy to importers and manufacturers of Renewable Energy. Therefore, the Government should provide a level playing field for all energy sources to compete economically. This would encourage and make Renewable Energy competitive with fossil fuel energy such as oil and gas.
In stark contradiction to its clean energy commitment, the Federal Government (through the Ministry of Mines and Steel Development) recently announced plans to issue coal mining licenses to companies’ set-up for the sole purpose of power generation. In this regard, such companies would ordinarily have been granted power generating licenses prior to their application for the coal mining license. This turn around in policy direction, indicates Government’s commitment to providing electricity regardless of the environmental and climate implications, considering the steep financing required for clean energy financing and the reluctance of funding agencies to be involved in coal-related projects.
Partnership with International Organisations
Asteven Group, a green energy solution provider launched a Renewable Energy Academy in Ogun State, Nigeria in February 2018. The Academy aims to train students to become vendors, developers, installers, technicians and service providers of renewable energy technologies.
The Academy falls under efforts to help expand Nigeria’s renewable energy portfolio to secure its energy supply against growing demand. Furthermore, the initiative will contribute to increasing access to affordable and clean energy to under-served and consumers currently not connected to the main grid, in addition to helping Nigeria reduce its carbon footprint.
Additionally, the Nigerian Government, Power for All, US Global Development Lab, Power Africa, USAID-Nigeria, as well as FHI360 announced a partnership to drive access to modern, clean and affordable electricity. The launch comes after Asteven Group installed approximately 20MW of renewable energy capacity, avoiding 20,744 tonnes of carbon emissions per year, in Nigeria. The group was formed to identify and implement a stakeholder approach to expedite the end of energy poverty in Nigeria. This is in line with the goals and vision of the Nigerian government’s commitment towards increasing power access in Nigeria and increasing the rate of electrification to rural areas.
Meter Asset Provider
Another recent policy is the Meter Asset Provider (MAP), which was introduced to address the meter supply gap, relieve the DisCo’s of the financial burden of meters, allow entrepreneurs to take up meter supplying as a business and diversify the sources of meter supply. The Regulations and Condition for its operation were issued by the NERC on March 8, 2018. The new MAP regulation provides for third-party financing of meter production and supply, under a permit issued by the NERC, with a 10-year period to pay back the cost.
Additionally, the Minister of Power, Works and Housing stated recently that Government intervention in this regard is part of its role of enabling businesses to be effective and explained that the policy does not relieve the DisCo’s of their contractual obligation to provide meters. He stated that on the contrary, the policy seeks to help them perform their contract.
Developments in legislation or regulation
Paris Climate Agreement
Nigeria is experiencing adverse climate conditions with adverse effects on the welfare of millions of people. Persistent flooding and droughts, dry spells and off season rains have sent growing seasons out of orbit, in a country dependent on rain-fed agriculture. This results in fewer water supplies agricultural use, hydro power generation and other uses. The cause of all this havoc is Climate Change. Majority of Nigerians continue to rely on wood for power supply. An estimated 62% of Nigerians rely on wood fuel for their entire energy needs resulting in massive deforestation and dangerous emissions which adds to pollution and climate change.
To combat and address this climate change devastations, Nigeria became a signatory to the Paris Agreement (PA) in December 2015 and it came into force on October 5 2016. The PA sought to cut carbon emissions by reducing dependence on fossil fuels and increase the use of renewables. Many countries have been required to fulfil a key requirement in the agreement by formulating their Nationally Determined Contributions (NDCs) The NDCs are the countries’ efforts to achieve climate change goals.
Majority of African countries have delayed measures to prioritise climate change development activities especially in economic sectors such as energy and agriculture. The NDC ambition under Climate Change Accord would cost an estimated $142 billion to meet the 2030 target. However, an innovative means of achieving this goal is through the issuance of green bonds, which has gained recognition as a means of acquiring finance for climate friendly purposes. Consequently, the Federal Ministry of Environment and Federal Ministry of Finance issued N10,690,000,000 in green bonds between December 18 – 20 2017.
Eligible Customer Regulation 2017
The Regulation was issued by the Nigerian Electricity Regulatory Commission (NERC) on November 1, 2017. The purpose of the Regulation was, amongst others, to improve the distribution of electricity industry and facilitate better power supply to consumers who consumed up to 2MW of power and above.
The regulation stated four (4) categories of eligible customers in the Nigerian Electricity Supply Industry (NESI). The directive which permits electricity customers to buy power directly from the GenCo’s rather than DisCo’s is in line with the provisions of Section 27 of the Electric Power Sector Reform Act 2005.
As at August 2018, the Ministry of Power, Works and Housing reported that the policy has started yielding result with five industrial customers presently buying electricity directly from GenCo’s and a list of 26 industrial customers who are seeking to benefit from the policy.
This policy is resisted by the DisCo’s as they argue that it seeks to deny them their mega customers and that it contradicts the law establishing the Discos. The Minister appeased the DisCos by issuing directives to NERC to work out and implement Competition Transition Charges as provided by Law, to safeguard them from any loss.
Lagos State Electric Power Sector Reform Law 2018
The Lagos State Government launched a “Lagos State Embedded Power Programme” (LSEPP) initiative with the objective of generating and distributing an additional 3,000MW off grid power from private sector sponsored projects within 6 years timeline. It was immediately approved by the NERC and in order to implement and legalise the initiative, the Lagos State Governor recently assented to the Lagos State Electric Power Sector Reform Law (the Law).
The overall aim of the Law is to increase electricity supply and power generation through enactment of the LSEPP, criminalise energy theft offences and enforce Consumer Rights and Obligations among others.
The LSEPP aims to improve the supply of electricity within Lagos through embedded power generating plants/projects. NERC licensed companies (Embedded Power Providers (EPPs)) will generate and sell power to DiSCo’s within Lagos State. Additionally, the Law recognises organisations that would supply feedstock to the EPPs (the “Feedstock Suppliers”) and licensed entities to be appointed by the State to procure and aggregate feedstock from the Feedstock Suppliers and execute feedstock supply agreements with the EPPs (the “Feedstock Merchants”).
Under the Law, the Lagos State Electricity Board will be established as the authority of LSEPP. The powers and responsibilities of the Board include providing support to EPPs to obtain licenses, permits and approval for the transmission and distribution of electricity to areas not covered by the national grid among others.
The Energy Theft Offences introduces offences such as unlawful connection of electricity lines or cables, meter tampering, supplying electric power without a licence and other offences. Additionally, it provides punishment, fines and prison sentences for violation of the offences. The Law also established power task force to enforce the provisions of the Law.
Nigerian Electricity Regulatory Commission-Uniform System of Accounts Regulations 2018
On the 8th of March 2018, NERC issued the Uniform System of Accounts (USoA) with the main objective of enacting the Uniform System of Accounts Guidelines 2014 in the Nigerian Electricity Supply Industry (NESI). The regulatory framework seeks to achieve a uniform accounting format or template for the filing of all accounting reports required by NERC based on information extracted from the accounting ledgers of Licensees.
The main goal of this regulation is to foster accountability and transparency in the accounting framework of the NESI through the effective monitoring of the financial flows by NERC. The USoA applies to all NERC licensed organisations such as GenCo’s, DisCo’s, transmission and system operators who by virtue of the USoA are required to file Regulatory Accounting Reports (RARs) in the accordance with the format prescribed by NERC. All Licensees are required to file RARs periodically and section 8 of the USoA prescribes a uniform financial year end for all licensees to prepare their statutory financial statements in compliance with the Companies and Allied Matters Act (CAMA). Additionally, the Licensees are to appoint auditors in line with the provisions of CAMA.
With many stakeholders having doubt as to the transparency of the finance and account of NESI, the USoA indicates a determined effort by NERC to improve transparency in the Nigerian NESI.
Petroleum Industry Bill
The main objectives of the Industry Governance Bill is to improve transparency, attract investors, increase growth and government revenues. The Bill will entrust the Minister of Petroleum Resources to set policies and direction for the petroleum industry as a whole.
The National Petroleum Regulatory Commission will be charged with regulating the entire petroleum industry and replace the current Department of Petroleum Resources (DPR), the Petroleum Inspectorate and the Petroleum Products Pricing Regulatory Agencies (PPPRA). Further, it will create a new body, the Nigeria Petroleum Assets Management Company (NAPAMC) who is responsible for managing the assets and interests of the Government and shall takeover the role of Nigerian National Petroleum Corporation (NNPC). NAPAMC shall be a company limited by shares to held by Ministry of Petroleum, Finance and Bureau of Public Enterprise and governed by the provisions of CAMA.
The Federal Government shall endeavour to honour international environmental obligations and shall promote energy efficiency, the provision of reliable energy, and a taxation policy that encourages fuel efficiency by producers and consumers.
Judicial decisions, court judgments, results of public enquiries
Nigerian Electricity Regulation Commission v Barrister Toluwani Yemi Adebiyi LPELR-429032 (CA) 2017
The public out cry on estimated billing and the Nigerian Electricity Regulation Commission’s (NERC) proposed increment of electricity tariff in 2015 brought about an action by a human rights lawyer Mr Toluwani Yemi Adebiyi, who challenged the increment. In his originating summons Mr Adebiyi sort the following reliefs amongst others:
- An order restraining the NERC, its Distribution Companies and their Agents from foisting further hardship and unjustifiable increase of electricity Tariff on Nigeria Citizens without meaningful power supply.
- An order mandating the NERC to make available to all consumers within a reasonable time of maximum of 2 years, prepaid meter as a way to stop the throat-cutting indiscriminate estimated bill.
The Court made an interim order that status quo be maintained in the suit, which in effect, barred the NERC from increasing the tariff. The NERC filed a motion on notice seeking to discharge the interim order but it was dismissed. NERC successfully appealed this ruling in July 2017. The case has been re-assigned to another Court and Nigerians await the outcome of this new case which could mean an increase in the already exorbitant tariff rates.
Ernest Nwoye v Abuja Electricity Distribution Company Unreported Suit No: CV/1256/15 (2017)
In this case the Plaintiff a resident of the Federal Capital Territory sued the Abuja Electricity Distribution Company for breach of his duty of care when they ignored the Plaintiff’s complaints over illegal, unfair and exorbitant bills imposed on him. The Plaintiff also sought the installation of an electric meter in his house as the Defendant has a duty of care to provide all customers with a meter and pending that installation an estimated bill in accordance with the NERC’s method of estimated billing.
This method is based on the weighted average cluster load, it involves the subtraction of the entire metered load from the energy supplied to the feeder (33kv or 11kv) and the application of an appropriately determined availability factor and correction of losses, which is aggregated among the various numbers and classes of customers supplied by the feeder. The Defendant in this case could not prove that the plaintiff’s estimated bill was generated using the above method. The Court therefore held that the Defendant owed a duty of care to the Plaintiff and must discharge that duty by installing a meter at the Plaintiff’s house. This judgment delivered in December 2017 is a victory for Nigerians as it shows that electricity distribution companies owe all customers a duty of care (to provide a meter) and must use the approved method for estimated billing.
Major events or development
The Power Sector Recovery Implementation plan (PSIRP)
This was approved by the Federal Executive council of Nigeria which was prepared in consultation with the world bank group (WBG). The PSRIP is a set of policy actions, operational and financial interventions to be implemented by the Federal Government to attain financial viability of the power sector. The objectives of this plan includes the elimination of the payment deficit which had accumulated in past years i.e. 2015 and 2016. The recovery implementation plan is estimated to require approximately US$ 1,500,000,000 annually for the next five years (2017-2022) in order to achieve sector viability. This would equally ensure performance and implementation of credible business continuity plans by the Disco’s and the TCN. Equally instructive is the effort to ensure that cost reflective tariffs are achieved over five years and there is increased electricity access through the implementation of off grid renewable power solutions. The implementation of the PSIRP is expected to introduce significant additional funding to ensure liquidity in the NESI.
The Final Issuance of the Mini Grid Regulations
This regulation was previously issued in draft form in 2016 and subsequently adopted on May 24 2017 by the NERC. The Mini Grid regulations is the first legal framework for the establishment and development of Mini Grids in Nigeria. It provides a regulatory framework for all mini grids in Nigeria This is peculiar to small scale electricity distribution. The Mini Grid regulation were issued to:
- to accelerate electrification in areas without existing distribution infrastructure (Unserved Areas) as well as areas with existing but poorly electrified or non-functional distribution facilities (Underserved areas) and
- Is expected to act as a catalyst for stimulating the desired improvements along the electricity value chain.
Despite its importance these Mini Grids are not without its shortcomings which include the lengthy period of processing an application for permit particularly the requirement of developers of an interconnected mini grid to execute a tripartite contract with a community connected with a disco.
With the Focus of the Federal Government on the supply of power to rural and unserved areas in Nigeria, it is expected that proactive ideas in the design and implementation of power projects in these areas would yield amazing results.
Liberalisation of Power Generation and Distribution
Pursuant to the Communique on the liberalisation of power generation and distribution between the Federal and state Governments at the 18th monthly Power Sector and stakeholders meeting held in Kumbotso, Kano State, Nigeria, on 14 August 2017, were the Minister affirmed the right of state governments in Nigeria to generate their own power independent of the Genco’s, Discos, the TCN and other operators in the NESI. The communique is aimed at underpinning the free- enterprise stance of the Act and liberating the Power business in the Country from the Grip of inefficient supply monopoly. Though the affirmation has no force of law, it is believed that the NERC will treat applications from state governments that are financially buoyant to generate their own power for the development of power projects. It was pursuant to this affirmation that the Lagos State Electric Power Reform Law 2018 was passed. What this invariably means is that there is an opportunity for stakeholders and potential investors to collaborate with viable state governments for the development of power solutions that are independent of the current transmission and distribution systems
Proposals for changes in laws or regulations
The Energy Commission Act (Amendment) Bill 2018
This Bill seeks to amend the Energy Commission Act (Amendment) of Nigeria 1989 whose statutory obligation is to ensure strategic planning and co-ordination of national policies in the energy sector. The Bill seeks to confer power on the commission to accord priority to promote, regulate and standardise development and utilisation of renewable energy(RE). This Bill equally seeks to make the commission the National focal point for renewable energy conservation for sustainable development.
The Electricity Power Sector Reform Act (Amendment) Bill 2017
This Bill seeks to amend the Electricity Power Sector Reform Act no 6 of 2005. The Bill proposes to empower the Nigerian Electricity Regulatory Commission with the effective supervisory role over distribution companies through the provision of regulation for tariff increment, consumer education and alternative energy sources for sufficient power supply.
The National Energy Bill 2016
The Bill seeks to ensure that diverse energy resources are available in sustainable quantities and at affordable prices to the economy in support of the economic growth and poverty alleviation initiative the Government. Furthermore, the Bill seeks to provide energy planning, increased generation and consumption of renewable energies. The Bill proposes to provide access to energy infrastructure and establish an institution to be responsible for the promotion of efficient generation and consumption of energy and energy research.
The Federal Competition and Consumer protection Bill 2016
Prior Nigeria competition laws have been grossly inadequate. Despite the provisions of the Electric Power Sector Reform Act 2005 which regulates sector based competition, the passing of the proposed Competition Bill into law will provide a codified set of laws that would govern competition in the overall market place. This Bill seeks to develop and promote fair, efficient and competitive markets in the Nigerian economy. The scope of application of this bill is holistic thus its adoption will affect all activities across all sectors in Nigeria.