Vice President Kashim Shettima has proposed an annual evaluation of electrical energy markets throughout states to observe the implementation of the Electricity Act 2023 and determine challenges hindering progress within the energy sector.
Shettima, represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, made the proposal on Wednesday on the National Stakeholders’ Workshop on the Electricity Act 2023 in Abuja.
The workshop was themed: “Empowering the States: Reviewing the Electricity Act 2023.”
The vice chairman proposed a National Electricity Reform Review and Implementation Framework involving the Nigerian Electricity Regulatory Commission (NERC), the Federal Ministry of Power, the Nigeria Governors’ Forum and state electrical energy regulatory establishments.
He stated an annual overview of state electrical energy markets would assist determine implementation bottlenecks and speed up funding within the sector.
Shettima urged states that had but to ascertain electrical energy regulatory commissions to start the required legislative and institutional processes immediately, stressing that efficient implementation of the legislation was important to enhancing energy provide.
He additionally inspired states that had recorded progress to share their experiences and technical experience with others, cautioning towards establishing regulatory establishments that existed solely on paper.
“The success of the reform should be measured not by the number of commissions established but by the electricity generated, investments attracted, jobs created, reliability of supply and improvements in the lives of our citizens,” he stated.
On funding, Shettima stated the federal government couldn’t single-handedly present the capital, know-how and experience required to rework the electrical energy sector.
He urged state governments to ascertain clear licensing procedures, predictable regulatory frameworks and commercially viable market preparations to draw non-public funding.
The vice chairman additionally referred to as on states to determine their accessible power sources and develop viable tasks that might broaden electrical energy entry, create jobs and stimulate financial progress.
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