Power Minister constitutes committee to tackle electricity market decentralisation issues

The Minister of Power, Joseph Tegbe, has constituted a nine-member inter-agency committee to drive continuous engagement among stakeholders, as well as to resolve emerging issues arising from the implementation of the Electricity Act, 2023.

Tegbe, who would serve as chairman of the committee, while speaking during the inauguration, listed the core objectives of the committee to include ensuring sustained engagement among power sector agencies, resolving implementation issues, and supporting the seamless operationalisation of the Electricity Act.

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According to Tegbe, the transition to a decentralised electricity market is one of the most significant reforms in the power sector in decades, saying its success would depend largely on collaboration among stakeholders working together towards the same goal.

While calling on stakeholders not to see the decentralisation of the electricity market as fragmentation but as the intelligent distribution of responsibilities within one integrated national electricity ecosystem, the minister said the Nigerian Electricity Supply Industry (NESI) has to succeed, adding that electricity, among others, is the single most important enabler of economic growth, industrialisation, job creation and digital transformation.

Tegbe said, “Together, we are laying the foundation for a modern, reliable, and investor-friendly electricity market that delivers improved service, attracts investment, and powers Nigeria’s economic growth. Every sector of our economy depends upon it, manufacturing, agriculture, mining, financial services, telecommunications and information technology to mention but a few.”

Committee members have been charged to work with other stakeholders and have been given a four-week duration to review issues raised at the meeting.