The Nigerian Electricity Regulatory Commission (NERC) is an independent regulatory agency which was inuagurated on 31st October 2005 as provided in the Electric Power Sector Reform Act 2005.
The Commission is mandated to carry out:
- The monitoring and regulation of the electricity industry
- Issuance of licences to market participants, and
- Ensure compliance with market rules and operating guidelines.
The Nigerian Communications Commission is the independent National Regulatory Authority for the telecommunications industry in Nigeria.
The Commission is responsible for creating an enabling environment for competition among operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country.
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Don't blame me for being excited!
The President of Nigeria, Goodluck Jonathan, wrote the following on his facebook page today:
Goodluck Jonathan Just as we now have an Independent National Electoral Commission which is non partisan and headed by a credible person, we may need to work towards developing our National Electricity Regulatory Commission (NERC) into an independent body tasked with developing our power infrastructure. At the moment the commission's ma...ndate is limited. Such a commission like our dream INEC should be non partisan, professional and COMPLETELY separated from politics as well as independent of the government of the day. Power, like our Votes ought to be treated as an urgent security issue for it is vital to our nations stability, economy and social progress. For a nation to have steady power, there must be a consistent forward movement in policy and project implementation without policy uncertainty. We need to inspire confidence in those who want to invest in this sector such that International and national bodies and contractors who do business in our country can attest that when a contract is signed it will be implemented as agreed. Transitions from one government to the other irrespective of whatever political colouration or ideological leanings must not affect valid legal agreements. Just as I have signed the AMCON bill to bring about this type of stability and trust in our financial systems, I see a day coming when every aspect of our economy will be immune from unwarranted interference. GEJ
From his Luckiness' facebook page again:
" Goodluck Jonathan While this administration is doing everything humanly possible to fast track development in the power sector, I am under no illusions that government can do it alone. If we want accelerated development in this sector we have to replicate the liberal environment that saw an explosion in the growth of the Telecommunications sector about 10 years ago.
To this end, I have directed the Presidential Task Force on Power to come up with a new Power Purchase Agreement that guarantees current and potential private investors in the power sector that they will be able to sell the power they produce to a credit worthy body because I know that foreign and local investors have signified a strong desire to invest billions in this sector if we create the right environment. In the recent weeks, government has come up with creative legislation and financing to stimulate growth in the economy but all these will amount to pouring water into a basket if we do not resolve our power challenges. I am heavily committed to this and I expect results not activity which is why I have made certain that every obstacle in the way of improving this sector is removed. GEJ"
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