Vice President Shettima Calls for Annual Review of Electricity Reforms in Nigeria

On Wednesday, Vice President Kashim Shettima proposed an annual review of electricity markets in Nigeria to ensure the effective implementation of the Electricity Act 2023. He made this suggestion during a workshop in Abuja focused on empowering states to enhance their electricity systems.

Shettima, who was represented by Sen. Ibrahim Hadejia, emphasized the need for a framework involving various stakeholders, including the Nigerian Electricity Regulatory Commission and the Federal Ministry of Power. He believes that regular assessments will help identify challenges and boost investment in the power sector.

The Vice President urged states that have not yet set up their electricity regulatory bodies to take immediate action. He stressed that the success of these reforms should be measured by tangible improvements in electricity generation and supply, rather than just the establishment of regulatory commissions.

Shettima highlighted the importance of attracting private investment in the electricity sector, stating that government alone cannot provide all the necessary resources. He encouraged states to create clear and fair regulations to draw in private investors and to develop projects that expand electricity access and create jobs.

During the workshop, Minister of Power Joseph Tegbe echoed Shettima’s sentiments, stating that the success of electricity reforms hinges on building credible regulatory institutions and attracting private capital. He pointed out that states need to ensure consumer protection and maintain a stable regulatory environment.

The Chairman of the Nigeria Governors’ Forum, Gov. Abdulrahman AbdulRazaq, also spoke about the importance of protecting states’ regulatory powers in any amendments to the Electricity Act 2023. He mentioned that the forum has been working to support states in implementing the Act and identifying investment opportunities.

Overall, the discussions at the workshop focused on the critical need for effective regulation and investment in Nigeria’s electricity sector to improve supply and reliability for consumers.