Ondo State government has officially taken charge of its electricity market effective 22nd of October 2024 when oversight by the Nigerian Electricity Regulatory Commission (NERC) came to an end.
The transfer followed directives from NERC issued on April 22, 2024, granting Ondo State the authority to manage its electricity market after fulfilling all legal requirements.
This is considered as a significant move towards energy independence and improved local governance in the state.
This development marks the end of the transfer process from NERC to the Ondo State Electricity Regulatory Bureau (OSERB).
The historic handover was in accordance with the alteration to Sections 14 and 15 (Part II) in the Second Schedule under the concurrent legislative list of the Constitution of the Federal Republic of Nigeria and the Electricity Act 2023
