Tinubu determined to reform power sector, says Shettima
…commissions NELMCO headquarters in Abuja …seeks private, global investment to boost electricity supply Vice President Kashim Shettima on Thursday declared that the administration of President Bola Tinubu remains resolute in
...commissions NELMCO headquarters in Abuja
...seeks private, global investment to boost electricity supply
- From Bolaji Ogundele, Abuja
Vice President Kashim Shettima on Thursday declared that the administration of President Bola Tinubu remains resolute in its determination to reform and strengthen Nigeria’s power sector, stressing that energy security is central to national development.
Speaking at the commissioning of the new head office of the Nigerian Electricity Liability Management Company (NELMCO) in Asokoro District, Abuja, Shettima said Nigeria cannot afford to gamble with its energy future, noting that the sector holds the key to sustainable growth and economic stability.
He said the Tinubu administration is focused on repositioning the power sector through data-driven decision-making, the deployment of technology in asset management, and strengthening partnerships with both local and international stakeholders.
“Above all, it requires that governance, transparency, and accountability remain the guiding principles of this institution. This is why the commissioning of this headquarters must symbolise a new phase of modernisation, efficiency, and forward-thinking leadership,” the Vice President said.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima commended the board, management and staff of NELMCO for their contributions, describing the agency as critical to restoring credibility within the Nigerian Electricity Supply Industry.
“Yours is a task that often goes unnoticed, yet it is foundational to everything we seek to achieve in this sector. You are, in many ways, the custodians of the sector’s credibility,” he added.
Shettima underscored the strategic role of NELMCO in addressing legacy challenges in the power sector, noting that the institution represents Nigeria’s commitment to confronting past burdens to unlock future opportunities.
According to him, “Nigeria is counting on the aspiration of NELMCO to restore a measure of confidence within the Nigerian Electricity Supply Industry,” a move he said aligns with the broader agenda of repositioning the sector as commercially viable and attractive to investors.
The Vice President expressed optimism that the new headquarters would enhance operational efficiency and strengthen the institution’s capacity to tackle longstanding liabilities in the sector.
He also called on private sector players and the international community to take advantage of emerging opportunities in Nigeria’s power sector, assuring that the government is committed to maintaining a transparent and investor-friendly environment.
“We are committed to creating a transparent, predictable, and investor-friendly environment. Institutions like NELMCO demonstrate that we are not only serious about reform, but capable of sustaining it,” he said.
In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said ongoing reforms in the power sector would positively impact small and medium enterprises and the broader economy.
He noted that recent initiatives, including the establishment of the Grid Asset Management Company (GAMCO), aim to address structural challenges within the sector.
Similarly, the Minister of Power, Adebayo Adelabu, said the commissioning of the new NELMCO office reflects the Federal Government’s commitment to strengthening liquidity in the power sector and enabling the agency to manage legacy liabilities more effectively.
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He added that the decentralisation and liberalisation of electricity supply, enabled by the Electricity Act signed into law by President Tinubu, now allows states to actively participate in power generation and distribution.
On the legislative front, Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, represented by Senator Oyelola Ashiru, said the new facility would reduce government expenditure on rent, while reinforcing efficiency in public institutions.
He assured that the National Assembly would continue to provide the necessary legislative support to enable agencies in the power sector to deliver on their mandates.
Also speaking, the Managing Director and Chief Executive Officer of NELMCO, Mrs. Mojoyinoluwa Dekalu-Thomas, said the company has evolved into a clearing house for legacy debts in the electricity sector.
She disclosed that beyond settling liabilities, the agency has generated over N30 billion in revenue for the Federal Government, underscoring its growing role in stabilising the sector.
