ADR DYNAMICS ILLUMINATING THE ELECTRICITY MARKET; POTENTIAL FOR RESHAPING ECONOMIC TRAJECTORY IN NIGERIA

Abstract

Nigeria has one of the largest electricity markets in Africa, but paradoxically characterised by endemic energy poverty and underdevelopment. Perplexed by this paradox, the study examines the impact of an effective dispute mechanism on the electricity market and potential for changing the economic trajectory in Nigeria. The qualitative method of research is adopted, with reliance on primary and secondary data. National legislative frameworks on electricity governance and dispute mechanism are examined, including the Electricity Act (EA) 2023. Findings in the study demonstrate existing nexus between functional electricity markets and economic growth across jurisdictions in the world. The study finds that EA is the regulatory framework on electricity governance, with an established market, which is predominantly shaped by a flexible multi-tier Alternative Dispute Resolution (ADR) system that promotes cost reflective, speedy and expert driven Electricity Dispute Resolution Landscape (EDRL).the study also finds that ADR is significantly illuminating the Nigerian EDRL, and promoting a cohesive market clime underpinned by robust electricity investment; serving as catalyst for engendering energy security, mitigating poverty and promoting sustainable development in Nigeria. Leveraging ADR dynamics, the study recommends for the establishment of an independent court connected ADR system, as part of the broader measures towards entrenching a resilient dispute resolution architecture, in maximising market potential within the electricity industry, and concomitantly reshaping the economic narratives in Nigeria.