On May 30, 2025, the Nigerian Electricity Regulatory Commission (NERC) issued the Code of Corporate Governance for the Nigerian Electricity Supply Industry (NESI Code), marking a notable step in institutionalizing corporate governance standards across Nigeria’s power sector.
Designed to foster accountability, transparency, and fairness, promote ethical leadership, enhance investor trust, and strengthen stakeholder engagement, the NESI Code introduces a mandatory principles-based governance framework, non-compliance with which is sanctionable by NERC.
This Newsletter explores the objectives, key provisions and practical implications of the NESI Code, positioning the NESI Code within the broader corporate governance landscape.
