The National Economic Council (NEC) has taken steps to fix Nigeria’s power problems.
The Council has decided to push harder on the National Electrification Strategy to stop the frequent power grid collapses and make electricity more accessible to Nigerians.
Vice President Kashim Shettima, who leads NEC, explained that energy access is a basic right and vital for economic growth. He made this known during the 146th NEC meeting held at the Presidential Villa, Abuja.
A new committee, led by Cross River State Governor Bassey Otu, has been set up to focus on better implementation of the Electricity Reform Act 2023 and the National Electrification Strategy. The committee aims to work with state governments to address specific energy needs and provide affordable power.
Other members of the committee include the Governors of Katsina, Gombe, Osun, Imo, and Plateau States, alongside key federal ministers and advisers.
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The Rural Electrification Agency (REA) and Niger Delta Power Holding Company are also represented.
According to the Managing Director of REA, Nigeria needs a diverse and updated power system. By involving states, the goal is to ensure electricity reaches all regions effectively and at a reasonable cost.
During the meeting, Vice President Shettima emphasized that improving energy access will help rural communities, boost businesses, and grow the economy.
“Energy access is a fundamental right, not a privilege. It is the oxygen of economic growth,” he said.
Beyond energy issues, the NEC also discussed other critical areas such as human capital development, creative industries, and long-term economic planning.
VP Shettima urged the Council to explore the creative industry’s potential for creating jobs and boosting the economy, mentioning the global success of Nigerian music, films, and arts.
In addition, NEC reviewed progress on the idea of creating state police. States that haven’t submitted their positions were told to do so within a week. The Council hopes to finalize a unified stance on state police in its next meeting.
Other highlights of the meeting included updates on federal accounts:
- Excess Crude Account: $473,754.57
- Stabilization Account: ₦33.32 billion
- Natural Resources Account: ₦26.85 billion
The meeting reflects NEC’s commitment to solving power challenges and driving Nigeria’s economic growth.
