Vice President Kashim Shettima has said that the administration of President Bola Tinubu remains determined to reform and strengthen Nigeria’s electricity sector.
He stated this on Thursday in Abuja, when he inaugurated the new head office of the Nigerian Electricity Liability Management Company (NELMCO) in the Asokoro District.
According to VP Shettima, what the administration seeks to achieve requires a commitment to data-driven decision-making, intelligent use of technology in asset management, and stronger partnerships with both local and international stakeholders.
He noted that while the promise of every nation rests on its abundance, Nigeria cannot afford to gamble with energy security.
“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 symbolize a new phase of modernisation, efficiency, and forward-thinking leadership.
“This administration remains resolute in its commitment to reform and strengthen the power sector. Permit me to commend the Board, Management, and staff of NELMCO for your dedication. 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,” the VP stated.
Big Role
Underscoring the crucial role NELMCO plays in the power sector, the Vice President said the electricity firm represents the nation’s commitment to confronting
“the burdens of yesterday so that they do not mortgage the possibilities of tomorrow.”
He noted that power security is an assurance that the Tinubu administration understands:
“Energy security is the ultimate foundation upon which national progress must stand.”
VP Shettima expressed belief that the new NELMCO headquarters would breathe
“A new lease of life into the institution and strengthen it. Whatever we do in investing in the capacity to solve problems that are often invisible but always consequential cannot reasonably be said to be enough unless we provide a lasting solution to these legacy challenges.”
Partnership
He called on partners in the private sector and the international community to invest in Nigeria’s power sector, reaffirming that the nation remains open for business.
“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,” the VP further stated.
Vice Chairman of the NELMCO Board and Minister of Finance, Wale Edun, said a stable power sector, which NELMCO is working to achieve, will positively impact SMEs while supporting Nigeria’s overall economic growth.
He noted that President Tinubu remains focused on transforming the power sector, leading to several initiatives and policies, including the recent establishment of the Grid Asset Management Company (GAMCO), which addresses critical aspects of the power sector and the country as a whole.
Also, the Minister of Power, Adebayo Adelabu, said the new edifice is a clear demonstration of the Federal Government’s efforts to strengthen power sector liquidity, while enabling NELMCO to efficiently manage identified legacy liabilities.
He stressed that the decentralisation and liberalisation of the power sector are anchored on the Electricity Act, signed into law by President Tinubu, a landmark legislation that now allows the 36 states to participate actively in providing electricity to Nigerians.
Chairman of the Senate Committee on Power, Enyinnaya Abaribe, who was represented, said the new head office will save the government funds previously spent on rent, thereby underscoring the Tinubu administration’s commitment to efficiency.
He added that the National Assembly remains committed to supporting NELMCO and other agencies with the necessary framework to deliver on their respective mandates.
The Managing Director of NELMCO, Mrs Mojoyinoluwa Dekalu-Thomas, said NELMCO now serves as a clearing house for legacy debt.
She disclosed that the agency has moved beyond debt settlement and has “generated revenue in excess of N30 billion for the Federal Government.”