The House of Representatives is making moves for the establishment of a new regulatory body to handle electricity management services alongside the Nigerian Electricity Regulatory Commission (NERC).
The house committee on power held a public hearing for key players to look into objections raised by the regulatory commission that the two regulatory bodies operating simultaneously would cause conflicts besides duplicating costs and confusing operators.
But the Ministry of Power said establishing the Nigerian Electricity Management Services Authority would help reduce the function overload on the NERC in an industry that requires highly specialised skill and expertise.
The Nigerian government in its quest to reform the power sector privatised the Power Holding Company of Nigeria opening the sector for private companies to invest and revitalise the sector which has been identified as capable of creating more jobs for Nigerian youths.
The plan for another regulatory body is to further decentralise the oversight function of the NERC for more efficiency.