Vice President Kashim Shettima has called for renewed urgency in fixing Nigeria’s electricity challenges as he commissioned the new headquarters of the Nigerian Electricity Liability Management Company in Abuja.

At the event, Shettima made it clear that improving power supply remains a top priority for the administration of President Bola Ahmed Tinubu, stressing that the country cannot afford to get it wrong in such a critical sector.

Rather than treating the new building as just another project, the Vice President said it should signal a fresh phase of efficiency, accountability, and better leadership within the agency. He emphasised that institutions like NELMCO play a quiet but crucial role in stabilising the power industry.

In his remarks, Shettima pointed out that Nigeria’s broader economic growth is closely tied to energy stability, describing electricity as the backbone of national development. He also urged the agency to strengthen transparency and governance as it carries out its responsibilities.

NELMCO was created in 2010 following the breakup of the former Power Holding Company of Nigeria. Its core job is to manage long-standing debts and financial obligations inherited from the old system—issues that have continued to weigh down the sector.

By handling these liabilities, the agency helps power generation and distribution companies operate without being burdened by past debts, making the sector more attractive to investors.

Shettima noted that resolving these “old problems” is key to unlocking future progress, especially as Nigeria tries to build a more stable and investment-friendly electricity market.

Also speaking at the event, Finance Minister Wale Edun highlighted the economic ripple effect of a stable power sector, particularly for small businesses that rely heavily on electricity.

Similarly, Minister of Power Adebayo Adelabu described the new headquarters as a step toward strengthening financial stability in the electricity market, especially in managing long-standing debts.

Lawmakers also used the opportunity to call for more funding. Representatives from both chambers of the National Assembly stressed that without adequate financial support, reforms in the power sector may struggle to deliver results.

On her part, NELMCO’s Managing Director, Mojoyinoluwa Dekalu-Thomas, said the agency has grown beyond just settling debts. According to her, it now serves as a central clearing house for legacy liabilities and has generated over ₦30 billion in revenue for the Federal Government.

Nigeria’s electricity sector has long battled issues such as funding gaps, tariff concerns, and inconsistent supply. These challenges have made reliable power a major concern for households and businesses alike.

With ongoing reforms, including decentralisation efforts backed by recent legislation, the government hopes to gradually improve generation, distribution, and overall service delivery.