The Minister of Power, Chief Adebayo Adelabu yesterday said he will present the draft document on National Integrated Electricity Policy to the Federal Executive Council (FEC) for approval in the next six weeks.
He spoke during the official presentation of the zero draft of the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP) in Abuja.
He said: “This policy document as amended with comment and responses to be received from all stakeholders will be duly presented to the Federal Executive Council within the next six weeks for approval.”
He assured the stakeholders that the ministry is committed to transparency, accountability, and inclusivity at every stage of the process, noting that the success of the policy will require the continued collaboration of all stakeholders.
He urged stakeholders to remain engaged and supportive as the team works together to realize the objectives of policy.
The minister said the successful implementation of the policy will be better accompanied by continuous enhancement and upgrade of national grid infrastructure, including resulting in the eventual complete migration to a full-cost -reflective tariff model.
“I want to mention the fact that the successful implementation of this policy document will be better complemented by continuous enhancement and upgrade of our grid and off power infrastructure, and the eventual full migration of the market to a full cost-reflective tariff model, we have the consequent positive impact on the power sector.
“And this will mark a complete transformation of our overall livelihoods as Nigerians by boosting our standard of living, improving our industrialization process, mechanized agriculture, improve maternal healthcare.”
He explained that the NIEP-SIP is a comprehensive document that outlines policy interventions across the entire value chain from generation and transmission to distribution and off-grid segments of the sector required for the transformation of Nigeria’s electricity sector to a sector that is resilient, efficient, and capable of driving the national development agenda.
He said the NIEP-SIP places a strong emphasis on achieving improved sector liquidity, creating an enabling environment for investment to thrive, integrating renewable energy sources, enhancing grid reliability, ensuring equitable access to electricity for all Nigerians particularly those in underserved communities, improving local content and capacity across the value chain, and gender mainstreaming in the sector.
“As we move forward with the implementation of this policy, I want to assure you that we are committed to transparency, accountability, and inclusivity at every stage. The success of this policy will require the continued collaboration of all stakeholders and I urge everyone to remain engaged and supportive as we work together to realise its objectives. I am confident that, with your continued support, we will achieve our goal of transforming the Nigerian power sector into one that is not only self-sustaining but also a catalyst for economic growth and social development,” Adelabu said.
Source: The Nation
