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NEWS

EKSG takes control of electricity regulation, licenses 14 vendors

October 31, 2024 • 2 min read

October 31, 2024

By Samuel Ogunsona

Ekiti State Government has taken a bold step towards decentralizing its power sector with the establishment of the Ekiti State Electricity Regulatory Bureau (EKSERB).

The bureau has issued licenses to 14 electricity vendors in the state, marking a major milestone in the regulation of the electricity market.

This development follows the state’s takeover of regulatory control from the Nigerian Electricity Regulatory Commission (NERC).

EKSERB now responsible for regulating the electricity market, the bureau will oversee electricity tariffs payable in Ekiti, while the state government will handle customer protective policies.

The establishment of EKSERB is a result of the signing into law of the Ekiti State Electricity Power Sector Act of 2023 by Governor Biodun Oyebanji.

The bureau is tasked with enforcing provisions of the law, including issuing licenses and permits for electricity generation, transmission, and distribution.

Official who wants to remain anonymous told The Yoruba Times, TYT, that the move is expected to improve electricity supply and eliminate exorbitant bills.

EKSERB will work to ensure that electricity vendors operate within established guidelines, providing relief to consumers.

The licensed vendors will now be required to adhere to strict regulations, ensuring efficient and safe electricity supply.

The bureau will monitor their activities, addressing consumer complaints and enforcing standards.

This decentralization effort aims to improve the overall efficiency and effectiveness of the power sector in Nigeria.