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Review of the Electricity Act 2023 and its Implications on the Nigerian Electricity Supply Industry (NESI)

The Electricity Act, 2023 (the “Act”) was signed into law on 8 June, 2023 by the President of the Federal Republic of Nigeria.

The Act, among other things, repealed and replaced the Electricity and Power Sector Reform Act,
2005 and seeks to provide a comprehensive legal and institutional framework for the power sector
in Nigeria in the areas of electricity generation, transmission, system operation, distribution, supply,
trading and to stimulate the contribution of renewable energy to the Nigeria’s energy mix. It is
expected that this will create an enabling environment to attract investment in the Nigerian
Electricity Supply Industry (NESI).

In our Executive Summary, we set out the key provisions, changes and implications of the Act on the power sector in Nigeria. 

Please read the Executive Summary here.

For more a more detailed analysis please download the full report: