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The Federal Government has established a nine-member inter-agency committee to address issues arising from the decentralisation of Nigeria's electricity market and ensure the smooth implementation of the Electricity Act, 2023.
The committee was inaugurated by the Minister of Power during a stakeholders' workshop on the implementation of the Electricity Act, the Nigerian Electricity Regulatory Commission, said Ina statement on Wednesday.
The Minister, who chairs the inter-agency committee, said the body would drive sustained engagement among stakeholders, resolve emerging implementation challenges and support the seamless operationalisation of the new electricity market framework.
According to the Minister, the committee has been given four weeks to review concerns raised during the workshop, engage relevant stakeholders and submit recommendations aimed at strengthening the implementation process.
Speaking at the event, the Minister described the transition to a decentralised electricity market as one of the most significant reforms in Nigeria's power sector in decades, stressing that its success would depend on collaboration rather than institutional rivalry.
"We must make the Nigerian Electricity Supply Industry succeed," he said, noting that electricity remains the most critical driver of economic growth, industrialisation, job creation, digital transformation and improved quality of life.
He observed that key sectors of the economy, including manufacturing, agriculture, mining, financial services, telecommunications and information technology, rely heavily on a stable electricity supply, adding that the objectives of President Bola Tinubu's Renewed Hope Agenda also depend on reliable power.
The Minister emphasised that decentralisation should not be seen as a fragmentation of the electricity industry but as a strategic distribution of responsibilities within an integrated national electricity ecosystem.
He also commended stakeholders for their constructive participation at the workshop and welcomed the decision to deepen consultations as implementation progresses.
According to him, the collaborative approach will help build a modern, reliable and investor-friendly electricity market capable of improving service delivery, attracting investment and supporting Nigeria's economic growth.
The workshop concluded with the formal establishment of the inter-agency committee, which is expected to submit its report within four weeks.