Adelabu Receives New Policy Document on Power Sector, Promises Transparency

•Says implementation will drive needed liquidity in electricity supply industry

Emmanuel Addeh and Aminat Hassan in Abuja

The Minister of Power, Chief Adebayo Adelabu, yesterday received the new integrated power sector policy document from the committee set up to streamline issues in the sector, promising to ensure transparency in its execution.

At the event which held in Abuja, with many development partners in attendance, Adelabu stated that the policy was the product of extensive consultations with industry experts, key stakeholders, and development partners who had shared their insights and expertise.

According to him, it represented a comprehensive document that outlines policy interventions across the entire value chain from generation and transmission to distribution and off-grid segments of the sector.

He stressed that this was required for the transformation of Nigeria’s electricity sector to a sector that is resilient, efficient, and capable of driving national development agenda.

Tagged the official presentation of the zero draft of the “National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP)”, Adelabu stated that the event marked a critical juncture in the nation’s journey toward achieving a robust, sustainable, and inclusive power sector that meets the aspirations of all Nigerians.

The journey leading up to the event , he said, had been a collaborative and rigorous process, driven by the team’s collective commitment to addressing the pressing challenges within the Nigerian Electricity Supply Industry (NESI).

“From the passage of the Electricity Act 2023 by President Bola Tinubu to the strategic engagements at the Ministerial Retreat and the 8th Africa Energy Market Place (AEMP) that followed, we have remained focused on crafting a policy framework that not only responds to current realities but also anticipates future needs.

“The NIEP-SIP places a strong emphasis on achieving improved sector liquidity, creating an enabling environment for investment to thrive, integrating renewable energy sources, enhancing grid reliability, ensuring equitable access to electricity for all Nigerians particularly those in underserved communities, improving local content and capacity across the value chain, and gender mainstreaming in the sector.

“As we move forward with the implementation of this policy, I want to assure you that we are committed to transparency, accountability, and inclusivity at every stage. The success of this policy will require the continued collaboration of all stakeholders, and I urge everyone to remain engaged and supportive as we work together to realize its objectives,” the minister stated.

He expressed gratitude to the various stakeholders, industry experts, and development partners who had contributed to the development of the policy.

“ Your commitment and hard work have laid a strong foundation for a brighter energy future for Nigeria. I am confident that, with your continued support, we will achieve our goal of transforming the Nigerian power sector into one that is not only self-sustaining but also a catalyst for economic growth and social development,” the minister added.

The power sector has for years been beset by multiple challenges, including lack of investment, illiquidity, asset vandalism, electricity theft, among others.

A country of over 200 million people, the country currently generates and supplies circa 3,500mw to 5,000mw, prompting majority of Nigerians to depend on generating sets.