Vice President Kashim Shettima reasserted the administration of President Bola Tinubu's dedication to reforming and fortifying Nigeria's power sector.
He indicated that energy security is non-negotiable for the nation, highlighting that a stable supply of electricity is crucial for comprehensive national development.
Shettima made these remarks on Thursday during the inauguration of the new headquarters for the Nigerian Electricity Liability Management Company (NELMCO), located in the Asokoro District of Abuja.
"This administration is unwavering in its commitment to reform and enhance the power sector," he stated.
The Vice President emphasized that reaching the government's goals necessitates data-driven decision-making, efficient technology utilization in managing assets, and building stronger alliances with both local and international partners.
He added that governance, transparency, and accountability should remain core principles guiding the operations of institutions within the power sector.
According to him, the inauguration of the new headquarters signals the start of a phase focused on modernization, efficiency, and progressive leadership for NELMCO.
He commended the board and staff of the organization for their efforts, praising them as pivotal figures in maintaining the sector's integrity.
Shettima noted that NELMCO is vital in tackling historical liabilities within the electricity sector, which is critical for reinstating confidence in Nigeria's Electricity Supply Industry.
He stressed that empowering such entities aligns with the government's broader aim of transforming the energy sector into a viable and attractive investment area.
The Vice President expressed optimism that the new facility would bolster NELMCO's ability to fulfill its mandate and significantly contribute to ongoing sector reforms.
He also encouraged private sector contributors and international allies to invest in Nigeria's power sector, pledging a transparent and welcoming investment climate.
"We are dedicated to fostering a consistent and investment-friendly environment. Institutions like NELMCO illustrate our seriousness about reform and our capability for sustainable implementation," he declared.
Earlier, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that a robust power sector would benefit small and medium enterprises while driving economic expansion.
He discussed ongoing reforms, including the establishment of the Grid Asset Management Company (GAMCO), aimed at resolving crucial issues in the sector.
The Minister of Power, Adebayo Adelabu, added that the new NELMCO headquarters showcases government strategies to enhance liquidity in the sector and effectively manage outstanding debts.
Senator Enyinnaya Abaribe, chairman of the Senate Committee on Power, as represented by Senator Oyelola Yisa Ashiru, remarked that the new facility will mitigate government rental costs and enhance operational efficiency.
Meanwhile, NELMCO's Managing Director and Chief Executive Officer, Mrs. Mojoyinoluwa Dekalu-Thomas, reported that the agency has generated over N30 billion in revenue for the Federal Government while serving as a mediator for legacy debts.
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