Tinubu Determined to Reform Power Sector – Shettima

Vice President Kashim Shettima has reaffirmed that the administration of President Bola Ahmed Tinubu remains committed to reforming and strengthening Nigeria’s power sector, describing energy security as critical to national development.

Shettima stated this on Thursday in Abuja while commissioning the new headquarters of the Nigerian Electricity Liability Management Company (NELMCO) in the Asokoro District, noting that the Federal Government is determined to reposition the electricity industry through transparency, accountability, and strategic reforms.

According to the Vice President, the Tinubu administration recognizes that sustainable economic growth depends on reliable electricity supply, stressing that Nigeria cannot afford to compromise on energy security. He said the government’s reform agenda in the sector is driven by data-based decision-making, the use of modern technology in asset management, and stronger collaboration with both local and international partners.

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“This administration remains resolute in its commitment to reform and strengthen the power sector,” Shettima said, adding that the commissioning of the NELMCO headquarters should mark a new phase of efficiency, modernization, and forward-looking leadership in the electricity industry.

He described NELMCO as a key institution responsible for managing legacy liabilities in the Nigerian Electricity Supply Industry, noting that its work is essential to restoring investor confidence and ensuring long-term stability in the sector. Shettima said Nigeria is counting on the agency to help rebuild trust and create a commercially viable electricity market that will attract investment.

The Vice President called on private investors and international partners to take advantage of opportunities in the sector, assuring that the government is committed to maintaining a transparent and investor-friendly environment. He said institutions like NELMCO demonstrate the government’s seriousness about sustaining reforms and addressing long-standing challenges affecting electricity supply.

Earlier, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said a stable power sector would boost small and medium enterprises and support overall economic growth. He noted that ongoing reforms, including the establishment of the Grid Asset Management Company (GAMCO), are aimed at resolving structural problems in the industry.

Minister of Power, Adebayo Adelabu, said the new NELMCO office reflects the Federal Government’s commitment to strengthening the sector’s financial stability and improving the management of legacy debts. He added that the Electricity Act signed by President Tinubu has enabled states to participate more actively in power generation and distribution.

Managing Director of NELMCO, Mojoyinoluwa Dekalu-Thomas, disclosed that the agency has generated over ₦30 billion in revenue for the Federal Government while addressing outstanding liabilities in the sector.

Shettima expressed confidence that the reforms being implemented will restore stability to the power sector and support Nigeria’s broader economic transformation agenda.