General
PwC Proposes Key Amendments to Nigeria Electricity Act 2023
By Adedapo Adesanya
PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on,
At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”
“The Electricity Act can play a pivotal role in addressing this challenge by guiding balancing the utilisation of our natural resources with the reduction of carbon emissions while showing how we can generate, transmit, and distribute adequate power to meet Nigeria’s energy needs,” he added.
He noted that “discussions at the roundtable have shown that power sector stakeholders welcome the Electricity Act as a good step, especially for consolidating the laws governing the Nigerian electricity supply industry and establishing a policy framework that empowers state governments and investors.
However, he stressed that there was more to be done to enhance the legislation and make it more responsive to the realities of industry practitioners, adding that the Act must provide the policy framework necessary to implement practical solutions to address the metering gap.
In his keynote address, Mr Bimbola Banjo, Partner and Finance Advisory Leader, PwC Nigeria, elaborated on the key provisions of the Act, including the separation of distribution from supply operations, incentivising renewable energy, the positioning of NERC as the apex regulator, the establishment of the Power Consumer Assistance Fund (PCAF), state government’s adoption of the Electricity Act, the establishment of N-HYPPADEC, and the definition of offences and penalties.
“While there is an urgency to adopt the Electricity Act, states must exercise caution and assess their readiness for implementation. The process of adoption will incur significant costs, including engaging legal and commercial advisors, and will require substantial investments in technology, human resources, and the establishment of state-level structures.
“Before proceeding, states should conduct a comprehensive evaluation of their electricity market and network infrastructure, accompanied by detailed technical and commercial feasibility studies. This rigorous assessment will ensure that states are adequately prepared to implement the Electricity Act effectively and reap its full benefits,” he added.
The Electricity Act fosters collaboration among various stakeholders, including state governments and federal government ministries. These partnerships and active state participation will lead to positive outcomes, such as the establishment of suitable investment vehicles, effective fundraising strategies, robust enforcement mechanisms, and enhanced knowledge exchange.
The roundtable’s panel of experienced power sector stakeholders discussed additional measures that will enhance the Electricity Act towards achieving its objectives.
For Mr Akinyemi Akingbade, Partner, Energy, Utilities and Resources, PwC Nigeria, who moderated the panel session, there’s a need to consider the role the Electricity Act can play in stimulating local manufacturing of electricity assets, such as meters, and fostering domestic investments within Nigeria’s power value chain, which will help job creation and economic growth.
Mr Razaq Obe noted that the Electricity Act has already started fostering collaborations in the sector. For example, there’s a forum of state commissioners for energy, which is a first in Nigeria’s history. He indicated the willingness of state governments to continue to collaborate to enhance the implementation of the Electricity Act.
Addressing the misconception surrounding reluctance to provide meters, Mrs Soetan emphasised that DisCos, despite facing cost challenges, believe in the benefits of metering for improved revenue collection.
She stressed that DisCos are actively seeking collaborations with various stakeholders to increase meter deployment for their customers. The collaboration between DisCOs and state governments to deter energy theft will be key to achieving the Electricity Act’s objectives.
Mr Obi-Chukwu expressed enthusiasm for the Electricity Act’s potential to promote renewable energy development in Nigeria, bringing about widespread adoption of solar energy in residential and community settings. Additionally, he emphasised the importance of digital transformation and data sharing to facilitate innovation.
Adding his input, Mr Mueller emphasised the need for a clear and effective dispute resolution mechanism to address regulatory disputes and prevent inconsistencies in regulatory decisions. He highlighted the current potential for double regulation and abuse of power.
Mr Akpeneye noted that enhancing the Electricity Act should include establishing a single, comprehensive law governing the entire power sector. While electricity distribution should remain within the purview of state governments, a centralised law is crucial to ensure consistency and prevent conflicts. The Electricity Act should clearly define the roles and responsibilities of regulators, establish industry standards, and outline how stakeholders should collaborate effectively.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it recorded a 30 per cent reduction in gas imbalance on the country’s Western Network following the conclusion of its first-half 2026 Nigerian Gas Network Reconciliation (NGNR) Workshop.
The workshop brought together gas transporters, suppliers, shippers and off-takers to reconcile gas volumes traded between January and June 2026, while introducing a Network Entry/Exit Point Measurement Infrastructure Audit Template aimed at improving metering accuracy and accountability across the gas transmission network.
In a communiqué issued after the workshop, the authority said participants also reviewed the performance of the Nigerian Gas Transmission Network, assessed progress on major pipeline infrastructure projects, and received updates on the ELPS Gas Shrinkage Factor and Hydraulic Modelling Project.
Discussions focused on addressing metering gaps, improving network visibility through Supervisory Control and Data Acquisition (SCADA) integration, and enhancing system reliability ahead of the commissioning of the Ajaokuta-Kaduna-Kano (AKK) Pipeline System.
The workshop adopted key resolutions, including the execution of outstanding Network Exit Agreements, mandatory submission of measurement audit templates and closer collaboration among industry stakeholders to improve network pressure management.
Speaking at the closing session on behalf of the authority’s chief executive, Mr Rabiu A. Umar, the Director of Transportation Systems and Networks, Mr Joseph G. Musa, said the biannual reconciliation exercise had become critical to promoting equitable gas transactions, transparency, investor confidence and efficient network operations.
Mr Musa noted that since the NGNR process was introduced in 2023, it had significantly improved gas measurement, strengthened regulatory compliance through consequence management, reduced operational imbalances and contributed to a more reliable domestic gas supply.
The workshop concluded with participants adopting the reconciled H1 2026 gas volumes, reaffirming the authority’s commitment to a transparent, efficient and reliable domestic gas market.
By Modupe Gbadeyanka
An investment that supports growing food and agriculture companies across Africa that strengthen agricultural value chains has been made by Swedfund.
The organisation is putting down about $12 million to strengthen climate resilience in African food systems through the Acumen Resilient Agriculture Fund II (ARAF II).
By improving access to markets, finance and essential services, these companies help smallholder farmers become more resilient to climate and economic shocks.
Over 30 million smallholder farmers operate across Sub-Saharan Africa, accounting for 80 per cent of all farms and producing 70 per cent of the region’s food (IFAD). Yet many face limited access to finance, quality inputs, reliable buyers and market information. At the same time, they are among those most exposed to climate change and weather-related shocks, which threaten harvests, incomes and food security.
The investment has an ambition to reach around four million smallholder farmers through ARAF II’s portfolio companies. It also aims to meet the criteria of the 2X Challenge, which promotes investments that support women’s economic empowerment.
ARAF II invests in businesses that address key gaps in agricultural value chains, from improving market access and reducing post-harvest losses to expanding financial and digital services for farmers. By helping these businesses grow, the investment aims to improve productivity, strengthen local value chains and increase the resilience of food systems.
Swedfund invests alongside other development finance institutions and investors to help mobilise long-term capital for businesses that often struggle to access financing despite their potential to strengthen food security, climate resilience and economic development across Africa.
“Climate change is already affecting the livelihoods of millions of smallholder farmers across Africa. Investing in businesses that improve access to markets, finance and agricultural services helps farmers strengthen their resilience, increase productivity and build more stable incomes. That is essential for more resilient food systems,” the Investment Director of Food Systems and Strategic Investments at Swedfund, Ms Helen Hagos, said.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to order a probe into the alleged diversion, disappearance and misapplication of more than N6.79 billion in public funds within the Nigeria Police Force (NPF) and the Federal Ministry of Police Affairs.
The grave allegations are documented in the latest Annual Report of the Auditor-General of the Federation published on September 9, 2025.
SERAP said, “Anyone suspected to be responsible—including contractors, companies and public officials implicated in the report—should be promptly prosecuted, while all missing public funds, firearms and ammunition should be fully recovered, secured and properly accounted for.”
In the letter dated August 1, 2026, and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The Auditor-General’s findings suggest a grave betrayal of the public trust and raise serious concerns about corruption and the management of public funds, police exhibits, firearms and ammunition.”
SERAP said: “The report also raises serious concerns over missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for exhibits, and the insecure storage of firearms, creating significant risks to public safety and national security.”
According to the group, “The diversion of funds meant for policing, abandoned security projects, missing firearms and ammunition, and the misuse of police exhibits undermine the operational effectiveness of the Nigeria Police Force, weaken public confidence and may contribute to Nigeria’s worsening insecurity.”
The letter, read in part: “The report documented numerous alleged financial irregularities within the Nigeria Police Force and the Federal Ministry of Police Affairs, including payments for projects that were never executed, abandoned contracts, inflated contract costs, and irregular procurement.”
“The report also documented unretired cash advances, unsettled insurance claims, payments for services allegedly not rendered, and other suspected diversion and misapplication of public funds amounting to over ₦6.79 billion.”
“The allegations also include missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for recovered firearms and other exhibits, and the insecure storage of firearms, posing serious risks to public safety and national security.”
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal action to compel your government to comply with our request in the public interest.”
Some of the others include: N499,875,500.00 for the construction of Police College Phase II, Bashar, Plateau State; N12,931,000.00 for the rehabilitation of Block B, Department of Logistics and Supply (Works) building, Garki; N111,635,864.64 for the construction of 12 one-bedroom transit camp units and rehabilitation of the administration block at the NPF Pre-retirement Skills Acquisition Centre, Kudana, Kaduna State; N4,011,627.89 inserted as taxes to inflate a contract; N1,938,299,452.00 for 14 ongoing projects that were abandoned; N5,050,000.00 in monetary exhibits released without proper authorisation; N112,026,424.00 for outstanding allowances paid to officers to cover 2020 liabilities; and N6,000,000.00 as annual payment to the Inspector General of Police’s Senior Special Assistant on Revenue and Tax Matters.
Others include N10,080,000.00 as cash advances for the provision of office equipment and accessories for the NPF Database Management Centre; N438,066,845.73 for the supply of bulletproof vests, ballistic helmets and procurement of a Styr Punch Vistar troop carrier; N18,000,000.00 for the training of women in cosmetology and provision of empowerment kits in Ondo Central Senatorial District, Ondo State; N258,989,999.75 for the procurement of 10 JAC patrol vehicles for NPF outpost stations in Kano State; N30,853,250.00 as security allowances for personnel attached to the Ministry of Police Affairs; N681,406,593.18 for the settlement of insurance claims through insurance brokers; N1,628,108,434.18 for outstanding insurance policy liabilities for 2020/2021; N57,484,515.30 for the procurement of video cameras, customised umbrellas, gift bags and customised towels for the Nigeria Police Force Public Relations Office; N7,760,409.56 in withholding tax and value added tax that was not deducted from contracts awarded.
