FG sets up committee to address decentralisation of electricity market

The Federal Government has set up a nine-member Inter-Agency Committee to address issues surrounding the decentralisation of the electricity market.

The Minister of Power, Mr Joseph Tegbe, inaugurated the committee during a workshop on the decentralisation of the nation’s electricity market in Abuja on Wednesday.

The committee will be chaired by the minister.

Tegbe said that the committee’s core objectives included ensuring sustained engagement among power sector agencies, resolving implementation issues as they arise, and supporting the seamless operationalisation of the Electricity Act 2023.

According to him, the committee has four weeks to review issues raised at the meeting, and members will work with other stakeholders and share a resolution within the time frame.

The minister said that the country’s transition to a decentralised electricity market was one of the most significant reforms in the power sector in decades

”Its success will depend not on institutional competition, but on collaboration, regulatory certainty, and our shared commitment to delivering better outcomes for Nigerians.

”We must make the Nigerian Electricity Supply Industry succeed as it remains the single most important enabler of economic growth, industrialisation, job creation, digital transformation and improved quality of life.

”Every sector of our economy depends upon it – manufacturing, agriculture, mining, financial services, telecommunications and information technology, to mention but a few.

”Indeed, every national aspiration under the Renewed Hope Agenda rests upon the availability of reliable electricity,” he said.

The minister, however, said that the responsibility before Nigerian Electricity Supply Industry extended beyond institutional mandates as it is a national obligation.

He said that the decentralisation of the electricity market should not be viewed as fragmentation.

”It should rather be understood as the intelligent distribution of responsibilities within one integrated national electricity ecosystem.

”1 am encouraged by the constructive engagement of all stakeholders, including the decision to deepen consultations as we continue to strengthen the implementation framework.

“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,” he said.