… commissions firm’s Abuja office

By Joseph Erunke, Abuja

Nigeria’s push to fix its troubled electricity sector gathered fresh momentum on Thursday, as Vice President Kashim Shettima declared that the Tinubu administration is unwavering in its resolve to deliver lasting reforms anchored on transparency, technology, and investor confidence.

Speaking at the commissioning of the new headquarters of the Nigerian Electricity Liability Management Company ,NELMCO, in Abuja, Shettima said Nigeria’s economic future hinges on energy security, warning that the country “cannot afford to gamble” with power supply.

He described NELMCO as central to rebuilding credibility in the Nigerian Electricity Supply Industry, noting that the agency’s role in managing legacy debts is critical to unlocking investments and stabilising the sector.

“This administration remains resolute in its commitment to reform and strengthen the power sector,” the Vice President said, urging stakeholders to embrace data-driven governance and stronger partnerships.

Finance Minister Wale Edun reinforced the administration’s stance, linking stable electricity to the survival of small businesses and broader economic growth, while Power Minister Adebayo Adelabu highlighted reforms under the Electricity Act that now empower states to generate and distribute power.

Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, represented by Senator Oyelola Yisa Ashiru, said the new head office will save the government funds previously spent on rent, thereby underscoring the Tinubu administration’s commitment to efficiency.

He added that the National Assembly remains committed to supporting NELMCO and other agencies with the necessary framework to deliver on their respective mandates.

Earlier, the Managing Director and Chief Executive Officer of NELMCO, Mojoyinoluwa Dekalu-Thomas, revealed that the agency has made significant strides in sanitising the sector, successfully settling over N2.16 trillion out of the N2.3 trillion liabilities it inherited from the defunct Power Holding Company of Nigeria ,PHCN.

Describing NELMCO as the “financial janitor” of the power sector, the MD said the company has not only cleared debts but also generated over N30 billion in revenue for the Federal Government through the sale and lease of non-core assets.

He added that the newly commissioned headquarters would serve as a hub for advanced asset management and data-driven decision-making, including the development of a National Power Assets Register to optimise government-linked electricity assets nationwide.