Nigeria’s electricity sector has taken another significant step toward transformation as the Minister of Power convened a high-level stakeholders’ engagement aimed at accelerating the implementation of the Electricity Act, 2023, a landmark law designed to reshape the nation’s power industry.
The strategic meeting brought together representatives of federal and state governments, members of the National Assembly, regulatory agencies, electricity market operators, investors, and other critical stakeholders across the power value chain. The engagement reflected the Minister’s commitment to building consensus and strengthening institutional cooperation to ensure the successful implementation of the Act.
Speaking during the meeting, the Minister emphasized that Nigeria’s transition to a decentralized electricity market is one of the most far-reaching reforms in the country’s power sector in decades. He stressed that the success of the reform will depend on collaboration, regulatory certainty, and a shared determination to deliver reliable and affordable electricity to millions of Nigerians.
The meeting produced a major breakthrough with the establishment of a nine-member inter-agency committee, to be chaired by the Minister, to coordinate continuous stakeholder engagement, address emerging implementation challenges, and ensure the seamless operationalization of the Electricity Act, 2023.
Industry stakeholders described the initiative as a bold demonstration of leadership and a significant step toward creating a modern, transparent, and investor-friendly electricity market capable of attracting new investments, improving service delivery, expanding access to electricity, and stimulating economic growth across the country.
The Minister reaffirmed the Federal Government’s commitment to sustaining dialogue with all stakeholders and ensuring that the implementation of the Electricity Act translates into tangible benefits for businesses, industries, and households nationwide.
With this renewed drive, the Ministry of Power continues to position Nigeria’s electricity sector on the path toward greater efficiency, increased private sector participation, and long-term energy security.
— Jamisi Newsline
