FG unveils electricity policy to boost power supply
The Minister of Power, Adebayo Adelabu, on Thursday formally unveiled the Nigeria Integrated Electricity Policy in Abuja.
According to a statement made available to PUNCH Online on Friday, the policy, developed through a collaborative effort involving local and international stakeholders, aims to establish a sustainable and inclusive electricity sector in Nigeria.
The unveiling, organised by the Federal Ministry of Power with support from the UK Foreign, Commonwealth and Development Office (FCDO) through the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), also saw the official presentation of the Nigeria Integrated Resource Plan (NIRP) 2024.
The event was attended by ministers, members of the Interministerial Power Sector Group, donor partners, and private sector executives.
According to the minister, the NIEP and NIRP 2024 represent critical milestones in Nigeria’s electricity reform journey, demonstrating the country’s commitment to evidence-based planning and sustainable energy development.
“Today marks a turning point in our nation’s energy landscape. The integration of the NIRP with our National Integrated Electricity Policy lays the foundation for transformative investments in generation, transmission, and distribution.
“This milestone secures our energy future and creates an enabling legal and regulatory environment that is highly conducive to both local and international private sector participation,” Adelabu said.
The NIEP was developed with the support of power sector professionals and donor partners, including the African Development Bank, the World Bank, the United Nations Development Programme, the Deutsche Gesellschaft für Internationale Zusammenarbeit, the Tony Blair Institute, and UKNIAF.
The statement noted that since January 2022, the FCDO, through UKNIAF, has provided critical technical support to the Federal Ministry of Power and the Nigerian Electricity Regulatory Commission in the development of the NIRP.
This effort has ensured a data-driven approach to addressing Nigeria’s power sector challenges, reinforcing the UK government’s long-standing commitment to strengthening the sector and fostering an enabling environment for private sector participation.
The Power Component Lead at UKNIAF, Frank Edozie, described the initiative as a game-changer for Nigeria’s electricity industry.
“UKNIAF is proud to support this catalytic initiative. Our support in developing the IRP and NIEP underscores our commitment to Nigeria’s power sector reform and reinforces the country’s promise as a premier destination for sustainable energy investment.
“These strategic plans create a pathway for increased private sector participation by establishing a transparent, stable and conducive environment for investments to drive growth and innovation across the power value chain,” Edozie stated.
The statement noted that the NIEP and NIRP 2024 introduce several strategic measures designed to enhance Nigeria’s electricity sector, including a robust legal and regulatory framework, a blueprint for sustainable electrification and investment opportunities across the value chain
The event also featured a private sector-focused panel discussion on investment opportunities arising from the NIEP and NIRP frameworks.
“As Nigeria advances toward becoming a leading economy in Sub-Saharan Africa regarding reliable, affordable and sustainable energy, the event marks a significant step in transforming the electricity. With these strategic measures in place, the nation is poised to attract unprecedented investment, drive innovation and create jobs – ensuring millions of Nigerians gain improved access to quality electricity”, the statement added.
