The National Economic Council (NEC) has taken a decisive step towards ending the recurring power grid failures that have plagued Nigeria by reinforcing its National Electrification Strategy. During its 146th meeting at the Presidential Villa in Abuja, chaired by Vice President Kashim Shettima, the Council approved the creation of a specialized committee to tackle the nation's energy challenges.
This committee, headed by Cross River State Governor Bassey Otu, aims to strengthen state participation in the Electricity Reform Act of 2023 and implement the National Electrification Strategy and Implementation Plan. The Council's decision follows Vice President Shettima's assertion that "access to energy is a fundamental right, not a privilege" and a key driver of economic progress. He emphasized that electricity is the backbone of Nigeria’s economic development, essential for lighting up homes, powering businesses, and advancing the country’s industrial ambitions.
The new committee features a mix of state governors and federal officials, including Governors from Katsina, Gombe, Osun, Imo, and Plateau States, as well as key federal ministers such as the Honorable Minister of Finance, Mr. Wale Edun, and the Minister of Power, Mr. Adebayo Adelabu. Their task is to push forward a diversified and resilient energy system, aiming to reduce reliance on the national grid and make power more accessible and affordable across the country.
A presentation by the Managing Director of the Rural Electrification Agency (REA) highlighted the need for a reformed and decentralized electricity system, capable of catering to the distinct energy needs of each region. This aligns with Vice President Shettima's call for greater investment in private-sector-led renewable energy projects to expand access, especially in rural areas.
Beyond energy reforms, the NEC meeting touched on other critical national issues. The Council is set to finalize the stance on state policing at its next meeting, with states yet to submit their positions given a deadline to enable a collective decision. Updates on the nation's financial accounts and the progress of the Special Agro-Industrial Processing Zones (SAPZ) initiative were also shared, underscoring NEC's commitment to economic development through strategic public-private partnerships.
The Council’s resolutions included directing the National Agency for Science and Engineering Infrastructure (NASENI) to increase support for manufacturing and infrastructure development, showcasing Nigeria’s capability for technological innovation. By harnessing domestic resources and expertise, NEC aims to pave the way for a robust economic transformation, driven by a stable and efficient energy sector.
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