The governments of Kano, Katsina, and Jigawa states have reached an advanced stage of talks to establish a regional electricity market and aim to raise N50 billion to fast-track access to power among consumers.
Also, the states are looking to acquire equity stakes in Future Energies Africa (FEA), the core investor in Kano Electricity Distribution Company (KEDCO), according to a press release posted on X on Monday by Saad Umar Faruk (@Asad_Mukty), the public relations officer of the Ministry of Power and Energy, Kano State.
|
|
The expectation is that the share acquisition will boost KEDCO’s strategic direction and improve electricity distribution in the region.
The agreement was reached during a high-level electrification summit in Marrakech, Morocco and is expected to facilitate expansion the scale of embedded generation, solar home systems, grid extension, and mini-grids.
|
|
|
|---|
Kano State Commissioner for Power and Renewable Energy, Gaddafi Sani Shehu, according to the statement, said the three states will collaborate to explore areas of mutual benefits in their electricity markets to promote regulation and cooperation.
Mr Shehu noted that the states will team up with KEDCO to cut losses from residential consumers, ensuring improved electricity supply to citizens.
“State representatives will convene an annual international retreat and meet quarterly to review progress, set direction, and strengthen ties for the Northwestern tri-state electricity market,” the statement said.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“This landmark agreement marks a significant step towards improving electricity access and supply in the region, promoting economic growth, and enhancing the quality of life for citizens,” it added.
READ ALSO: Umuahia residents protest soaring electricity bills
The National Assembly, in 2023, passed a constitutional amendment permitting states to generate, transmit and distribute electricity in breakaway from the previous law that assigned those functions exclusively to the federal government. President Bola Tinubu approved the law in June 2024.
The Nigerian Electricity Regulatory Commission has been decentralising electricity oversight by transferring regulatory roles to various states.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
![ARMY: Nigerian Soldiers (Army) on duty. [PHOTO CREDIT: The Guardian]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2019/07/images-131-e1777795489958.jpeg?fit=739%2C415&ssl=1)
