Vice President Kashim Shettima on Thursday inaugurated the new head office of the Nigerian Electricity Liability Management Company in Abuja, charging the agency to play a more decisive role in improving electricity supply across the country.
He also reassured Nigerians of the commitment of President Bola Tinubu’s administration to overhaul the power sector and deliver more reliable service nationwide.
Speaking at the event, Shettima stressed that energy security remains central to national development, warning that Nigeria cannot afford to mishandle such a critical sector.
“It requires that governance, transparency, and accountability remain the guiding principles of this institution. This is why the commissioning of this headquarters must symbolise a new phase of modernisation, efficiency, and forward-thinking leadership.
“This administration remains resolute in its commitment to reform and strengthen the power sector. Permit me to commend the board, management, and staff of NELMCO for your dedication. Yours is a task that often goes unnoticed, yet it is foundational to everything we seek to achieve in this sector. You are, in many ways, the custodians of the sector’s credibility,” Shettima said.
Highlighting the strategic importance of the agency, the Vice President described NELMCO as a key institution in addressing long-standing challenges in the electricity industry.
He said the company represents Nigeria’s resolve to confront “the burdens of yesterday so that they do not mortgage the possibilities of tomorrow,” adding that “energy security is the ultimate foundation upon which national progress must stand.”
According to him, Nigeria is counting “on the aspiration of NELMCO to restore a measure of confidence within the Nigerian Electricity Supply Industry,” a goal he noted aligns with the broader agenda of repositioning the sector as a commercially viable and investment-ready space.
“Whatever we do in investing in the capacity to solve problems that are often invisible but always consequential, cannot reasonably be said to be enough unless we provide a lasting solution to these legacy challenges,” he added.
Shettima also called on private investors and international partners to take advantage of emerging opportunities in the sector.
“We are committed to creating a transparent, predictable, and investor-friendly environment. Institutions like NELMCO demonstrate that we are not only serious about reform, but capable of sustaining it,” he further stated.
Earlier, the Vice Chairman of the NELMCO Board and Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said stabilising the power sector would have far-reaching economic benefits, particularly for small and medium-scale enterprises.
The Minister of Power, Adebayo Adelabu, described the new headquarters as a reflection of the Federal Government’s determination to strengthen liquidity in the electricity market and enable NELMCO to manage legacy liabilities more effectively.
He noted that ongoing reforms, including decentralisation and liberalisation, are anchored on the Electricity Act signed by President Tinubu, which empowers states to actively participate in electricity generation and distribution.
Also speaking, Chairman of the Senate Committee on Power, Enyinnaya Abaribe, represented by Senator Yisa Ashiru, said the facility would reduce government spending on rent and reflects a broader commitment to efficiency.
On his part, Chairman of the House of Representatives Committee on Power, Victor Nwokolo, stressed the urgent need for adequate funding of the sector to unlock its full potential.
“Without finance, the power sector cannot do anything; the power sector needs to be given proper attention. If you have invested N3tn and it is remaining N1bn to complete the project, it is still as good as if you had not started. I want to appeal to the Federal Government to take urgent steps for the release of funds to the Ministry of Power and the agencies under it,” he said.
In her remarks, the Managing Director and Chief Executive Officer of NELMCO, Mrs Mojoyinoluwa Dekalu-Thomas, said the agency has evolved beyond its original mandate of settling debts.
She disclosed that NELMCO now functions as a clearing house for legacy liabilities in the sector and has “generated revenue in excess of N30bn for the Federal Government.”
The Nigerian Electricity Liability Management Company was established in 2010 as part of the power sector reform programme that led to the unbundling and privatisation of the former Power Holding Company of Nigeria. Its primary mandate is to manage and settle the legacy debts and contractual obligations inherited from defunct power utilities.
These liabilities, ranging from unpaid contractor obligations to pension commitments and other financial exposures, had long posed a significant risk to investor confidence and the overall stability of the Nigerian Electricity Supply Industry.
By acting as a repository for these debts, NELMCO effectively “cleans up” the balance sheets of successor companies, allowing generation and distribution firms to operate on a more sustainable footing. This role is considered critical to improving liquidity in the sector, attracting investment, and ensuring that operators can focus on service delivery rather than legacy financial burdens.
Over the years, persistent liquidity challenges, tariff shortfalls, and market inefficiencies have continued to hamper the sector, contributing to erratic power supply across the country. As a result, institutions like NELMCO have become central to the Federal Government’s reform strategy aimed at restoring confidence, strengthening financial discipline, and laying the groundwork for a more reliable electricity market.
The inauguration of a permanent headquarters is seen as both symbolic and practical, signalling a renewed commitment to institutional capacity and long-term sector reform at a time when Nigeria is seeking to expand generation, improve transmission, and decentralise power supply under a new legal and regulatory framework.
