Federal Government Unveils Comprehensive National Electricity Policy to Address Industry Challenges
In a bold and strategic move to tackle the persistent issues plaguing Nigeria’s electricity sector, the Federal Government has unveiled the zero draft of the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP). This landmark policy aims to reshape the Nigerian Electricity Supply Industry (NESI), laying the groundwork for a more robust, sustainable, and inclusive power sector that aligns with the aspirations of all Nigerians.
The official presentation of the NIEP-SIP draft took place on Wednesday in Abuja, where Minister of Power, Adebayo Adelabu, outlined the significance of the policy. He emphasized that this comprehensive document is a culmination of extensive consultations with industry experts, key stakeholders, and development partners, ensuring that the policy is both reflective of current challenges and proactive in anticipating future needs.
“The journey leading up to today has been a collaborative and rigorous process, driven by our collective commitment to addressing the pressing challenges within the Nigerian Electricity Supply Industry,” Adelabu stated during the unveiling. He further underscored that the NIEP-SIP is not just a reaction to the current state of the power sector but is also designed to ensure that the sector remains resilient, efficient, and capable of meeting the growing demands of the nation.
The NIEP-SIP outlines strategic interventions across the entire electricity value chain, from generation and transmission to distribution and off-grid solutions. This holistic approach is intended to create a more stable and reliable power supply, which is crucial for Nigeria’s economic growth and development. The policy is seen as a critical step in the nation’s journey toward achieving a power sector that is not only capable of meeting current energy demands but is also adaptable to future challenges.
In conjunction with the unveiling of the NIEP-SIP, the Federal and State Governments have also announced plans to invest N100 billion to import electricity meters into the country. This initiative is part of the broader effort to address the significant metering gap that has long been a source of frustration for consumers and a barrier to efficient energy distribution.
Speaking on this initiative in Ibadan, Oyo State, Minister Adelabu highlighted the government’s commitment to closing the meter gap through the Presidential Meter Initiative (PMI). He noted that the administration of President Bola Tinubu has made substantial progress in sourcing funds for this critical initiative, which involves a combination of federal and state government resources.
“In the PMI, we have made good progress in sourcing the fund for this, and it is going to be by a combination of the federal and state governments. Today, we have received, and we have seen about N100bn that will go into the procurement of meters,” Adelabu explained.
He further revealed that the World Bank has pledged its support to Nigeria’s metering efforts, committing to the procurement of nearly two million meters over the next two years through the Distribution Sector Recovery Program (DISREP). This initiative, supported by a $500 million fund from the World Bank, will see $200 million specifically allocated for meter procurement, which is already at an advanced stage.
“In fact, for the World Bank, we have issued contract awards. It’s just for them to start bringing the meters from overseas and locally. Because of the capacity requirements, we cannot just depend on local patronage alone. We must bring it from other clients where it’s even cheaper,” the Minister added.
This dual approach—introducing a comprehensive policy framework while simultaneously addressing immediate infrastructure needs—reflects the government’s multifaceted strategy to reform the power sector. The focus on both the strategic long-term vision and the urgent short-term challenges underscores the seriousness with which the current administration is tackling Nigeria’s electricity issues.
The unveiling of the NIEP-SIP and the aggressive push to close the metering gap are expected to have far-reaching implications for the Nigerian economy. Reliable electricity supply is a cornerstone of industrial growth, economic stability, and improved quality of life for citizens. As the government continues to implement these policies, there is cautious optimism that the long-standing issues of electricity supply in Nigeria could finally see meaningful resolutions.
The NIEP-SIP is poised to become a key instrument in achieving the broader goals of energy security, economic diversification, and sustainable development. As stakeholders across the industry and beyond await the finalization and implementation of the policy, the Federal Government’s efforts are being closely watched, with hopes that these initiatives will indeed transform the Nigerian power sector into a model of efficiency and reliability.
The success of this policy and the associated initiatives will ultimately depend on sustained commitment, effective execution, and continuous collaboration between the government, private sector, and international partners. If these elements are in place, Nigeria could be on the verge of a significant breakthrough in its long-standing electricity challenges, paving the way for a brighter and more prosperous future for all Nigerians.
Source : Premium Times
