Vice President Kashim Shettima on Thursday reaffirmed the Federal Government’s commitment to overhauling Nigeria’s power sector, warning that the country “cannot afford to gamble with energy security.”
He spoke in Abuja while commissioning the new headquarters of the Nigeria Electricity Liability Management Company (NELMCO) in Asokoro, where he stressed that President Bola Tinubu’s administration remained focused on building a transparent, data-driven and investor-friendly electricity market.
Mr Shettima described NELMCO as a critical institution in restoring credibility to the power sector, noting that it plays a key role in addressing legacy challenges that could hinder future growth.
He said Nigeria was relying on the agency to rebuild confidence in the Nigerian Electricity Supply Industry, adding that the new headquarters reflected a shift towards modernisation and more strategic leadership.
According to him, the move aligns with the administration’s broader goal of making the energy sector commercially viable and attractive to investors.
Senior government officials highlighted the economic impact of ongoing reforms.
READ ALSO
The Minister of Finance, Wale Edun, said a stable electricity supply would boost small and medium-sized enterprises, while pointing to the creation of the Grid Asset Management Company (GAMCO) as a key step in repositioning the sector.
Similarly, the Minister of Power, Adebayo Adelabu, said the new facility would strengthen NELMCO’s capacity to manage inherited liabilities more effectively.
He added that the Electricity Act signed by Tinubu had opened up the sector, enabling all 36 states to participate in electricity generation and distribution.
🔍 Explore More
- NRTC English Knowledge Base – Learn, improve, and sharpen your English skills.
- Top Stories From Around the World – Stay informed with the latest global news and insights.
- Specially Curated Listicles – Discover interesting lists, guides, and deep dives selected for our readers.
- Stay Updated: Join our mailing list and never miss the latest articles and updates from NRTC.
Representing the Chairman of the Senate Committee on Power, Enyinnaya Abaribe, Oyelola Ashiru commended the relocation to a government-owned building, noting that it would cut costs previously spent on rent.
The Managing Director of NELMCO, Mojoyinoluwa Dekalu-Thomas, said the agency had moved beyond its traditional role of managing legacy debts to generating revenue for the government.
She disclosed that NELMCO had so far remitted over N30 billion to the Federal Government.
Mr Shettima used the occasion to invite both local and international investors to take advantage of opportunities in Nigeria’s power sector.
He said the government remained committed to creating a predictable and stable environment for investment, adding that institutions such as NELMCO showed that the reforms were not only serious but sustainable.
