The Nigerian Electricity Regulatory Commission (NERC) has issued an order transferring the regulatory oversight of Ogun State’s electricity market to the Ogun State Electricity Regulatory Commission (OGERC). This decision follows the Ogun State government’s compliance with the provisions of the amended Electricity Act of 2023.
Under the new act, any state wishing to establish and regulate an intra-state electricity market must notify NERC, which will then authorize the transfer of oversight responsibilities. Ogun State has adhered to these legal requirements and has formally requested the transfer.
As part of the transfer, NERC has directed electricity distribution companies, including Eko Electricity Distribution Company (EKEDP), Ikeja Electric PLC (IE), and Ibadan Electricity Distribution Company (IBEDC), to set up subsidiaries to handle the supply and distribution of electricity within Ogun State. These companies are required to complete the incorporation of their respective subsidiaries within 60 days from December 24, 2024, and apply for licenses from OGERC.
The full transfer process is set to be completed by June 23, 2025.
