The event, according to the government, marks a critical juncture in the nation's journey toward achieving a robust, sustainable, and inclusive power sector that meets the aspirations of all Nigerians.
On Wednesday, the Nigerian government unveiled the draft of the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP).
The development, according to the government, marks a critical juncture in the nation's journey toward achieving a robust, sustainable, and inclusive power sector that meets the aspirations of all Nigerians.
Speaking at the NIEP-SIP Zero draft presentation in Abuja on Wednesday, Nigeria's Minister of Power, Adebayo Adelabu, said the policy is the product of extensive consultations with industry experts, key stakeholders, and development partners.
"The journey leading up to today has been a collaborative and rigorous process, driven by our collective commitment to addressing the pressing challenges within the Nigerian Electricity Supply Industry (NESI).
"From the passage of the Electricity Act 2023 by President Bola Ahmed Tinubu to the strategic engagements at the Ministerial Retreat and the 8th Africa Energy Market Place (AEMP) that followed, we have remained focused on crafting a policy framework that not only responds to current realities but also anticipates future needs," Mr Adelabu said.
He explained that the NIEP-SIP is a comprehensive document that outlines policy interventions across the entire value chain, from generation and transmission to distribution and off-grid segments of the sector required for the transformation of Nigeria's electricity sector to a sector that is resilient, efficient, and capable of driving the national development agenda.
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He added that the NIEP-SIP places a strong emphasis on achieving improved sector liquidity, creating an enabling environment for investment to thrive, integrating renewable energy sources, enhancing grid reliability, ensuring equitable access to electricity for all Nigerians, particularly those in underserved communities, improving local content and capacity across the value chain, and gender mainstreaming in the sector.
"As we move forward with the implementation of this policy, I want to assure you that we are committed to transparency, accountability, and inclusivity at every stage.
"The success of this policy will require the continued collaboration of all stakeholders, and I urge everyone to remain engaged and supportive as we work together to realise its objectives," he said.
Mr Adelabu expressed gratitude to stakeholders, industry experts, and development partners who contributed to the policy's development.
"Your commitment and hard work have laid a strong foundation for a brighter energy future for Nigeria. I am confident that, with your continued support, we will achieve our goal of transforming the Nigerian power sector into one that is not only self-sustaining but also a catalyst for economic growth and social development," he added.
