Nigeria, April 25 -- Nigeria's power sector is undergoing one of its most far-reaching transformations in decades, as the implementation of the Electricity Act 2023 shifts the industry from a centrally controlled system to a decentralised, multi-tier electricity market.

This is the central finding of a new report by PwC (PricewaterhouseCoopers), published on Thursday, titled "Priority actions for the successful evolution of Nigeria's multi-tier electricity market."

The report draws from a high-level stakeholder engagement held during the firm's annual power and utilities roundtable.

The meeting brought together key actors across the electricity value chain, including representatives of federal and state governments, distribution compan...