Effective October 22, 2024, Ondo State has officially taken control of its electricity market as oversight by the Nigerian Electricity Regulatory Commission (NERC) concludes.
This transition comes after NERC issued a directive on April 22, 2024, empowering Ondo State to manage its electricity sector once it met all necessary legal obligations.
The move is seen as a crucial step toward achieving energy autonomy and enhancing local governance within the state.
This milestone signifies the successful completion of the handover process to the Ondo State Electricity Regulatory Bureau (OSERB).
The transfer aligns with amendments to Sections 14 and 15 (Part II) in the Second Schedule of the Constitution of the Federal Republic of Nigeria and the provisions of the Electricity Act 2023.
