- The Nigerian Electricity Regulatory Commission (NERC) has provided reasons why it decided to rethink on its proposed financial support for the new consumer advocacy group, the Nigerian Electricity Consumers Advocacy Network (NECAN) it helped initiate its formation.
- According to NERC, its decision to withdraw its financial support for NECAN was informed by its regulatory stand as well as industry position that NECAN should have its operational independency, away from the regulator’s control.
- It also maintained that funding NECAN would amount to regulatory partiality whereas industry operators could interpret the gesture as an unwholesome bias to other players in the sector. Such act, NERC explained would be unhealthy to the development of a value-driven electricity market in the country.
- Chairman of NERC, Dr. Sam Amadi made this clarification available to THISDAY, following recent charges against it by the interim Chairman of NECAN, Chief Tomi Akingbogun, that it has withdrawn its proposed financial support for the network.
- NECAN was initiated by NERC to advance consumers’ stakes in Nigeria’s electricity industry. The network by the intention of the regulator is expected to place consumers on a good pedestal to argue for accountable service delivery from operators in the market.
- Source: Thisday
Reason NERC Withdrew Financial Support for NECAN
