Section 8 Electricity Act 2023

Section 8 of the Electricity Act 2023 is about Declaration of competitive electricity markets. It is under Part III (Development of a Competitive National Electricity Market) of the Act.

(1) The Commission shall present to the President and the National Assembly each report Declaration of made under section 7 (2) (c) of this Act, and when the Commission, in consultation competitive with the Minister is satisfied that the electricity market in Nigeria has developed to a electricity markets point where a more competitive stage than the preceding market ought to be established, having regards to the satisfaction of the pre-conditions and such features as may be prescribed under the market rules, the Commission shall issue a declaration that such a market stage be commenced.

(2) The market stage declared by the Commission under the provisions of subsection (1) shall retain the features and conditions as contained under the market rules and shall remain operational until such a time as the Commission shall determine,