Nigeria in top 5 with top-notch electricity framework

By Tunde Shorunke

Electricity Regulatory Index Report has ranked Nigeria fouth among 36 countries in Africa with well-developed regulatory frameworks.

This is contained in the latest Electricity Regulatory Index report, stating that Africa’s most populous country performed on a medium level of its regulatory development.

The report was published by the African Development Bank (AfDB), where Electricity Regulatory Index Report is a product of Power, Energy, Climate Change, and Green Growth Complex of AfDB. Also, Uganda has for the third time in a row emerged as the top performer in the latest index, followed by Namibia, Tanzania, Zambia, Kenya, Zimbabwe, Nigeria, amongst others.

According to the report, the basic elements of a regulatory framework exist in Nigeria but the regulator’s capacity is limited due to the weak evolution of institutional and legal structures.

In its external regulatory governance structure that includes the legal mandate, clarity of roles and objectives, independence and accountability of the regulator, Nigeria rates third, following Uganda and Tanzania.

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Nigeria ranked fourth in governance and substance, which is calculated by averaging the aggregate scores on the Regulatory Governance Index and Regulatory Substance Index.

Looking back, the first edition was published in 2018 and covered 15 countries. A total of 34 countries participated and were assessed in 2019.