FEC approves roadmap for Nigeria's power sector
The Policy which had been ready since December 2024 and submitted to President Bola Ahmed Tinubu was ratified on Monday at the weekly Federal Executive Council (FEC) meeting.
The policy is a comprehensive framework designed to transform Nigeria's electricity sector in alignment with National development objectives and international best practices as mandated by Section 3(3) of the revised Electricity Act 2023.
According to a statement by Bolaji Tunji, Special Adviser, Strategic Communications and Media Relations, quoting the Minister of Power, Chief Adebayo Adelabu, the Policy implementation has already started and will now gain momentum with the President's approval while the impact would soon be felt adding that the Electricity Act 2023 requires the Federal Government through the Ministry of Power to initiate the process for the preparation and publication in the Federal Government's gazette, an integrated National Electricity Policy and Strategic Implementation Plan, within one year of the commencement of the Electricity Act.
'The road map Policy addresses critical challenges in Nigeria's electricity sector through comprehensive framework for sector transformation with clear guidelines for sustainable power generation, transmission distribution as well as integration of renewable energy sources, its promotion, energy efficiency and enhancement of sector governance', the minister said.
Adelabu described the passage of the Electricity Act 2023 as a pivotal moment for the Electricity sector as it signals a transformative change which has laid the foundation for NESI, thus enabling exponential socio-economic growth.
'This National Integrated Electricity Policy and Strategic Implementation Plan (NIEP) is a comprehensive roadmap developed to guide all stakeholders, the Federal and State Governments, market participants, investors, and indeed all Nigerians, through this transition.'
The minister said the preparation of the Policy represents the collective efforts of the Ministry in collaboration with a wide cross-section of stakeholders across the public and private sectors at national and state levels, civil society organizations, academic institutions, captains of industry, donor partners, development institutions, private sector participants and consumer advocacy groups, to address the complex challenges faced by NESI, from infrastructure deficits, inadequate capital to regulatory inefficiencies.
'The NIEP is a very significant evolution from the National Electric Power Policy of 2001, which has been long overdue for replacement. The Policy outlines various initiatives to aid the growth and development of State Electricity Markets (SEMs).
'It fosters a decentralised but collaborative approach to energy management and resource planning. This policy is a living document that will evolve with the Industry's needs and challenges. It underscores the importance of collaboration, innovation, and a steadfast commitment to consumer protection and engagement.'
The Policy is structured across eight chapters which comprehensively address the historical perspective of the Nigeria Electricity Sector, focus on key features of the Electricity Act 2023, Nigeria's electricity Policy objectives, electricity market design, value chain analysis, stakeholders' roles and responsibilities, climate change and low carbon economy initiatives, gender equality and social inclusion, local content development including research and development, commercial, legal and regulatory frameworks.
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