The National Economic Council (NEC) has resolved to reinforce the implementation of Nigeria’s National Electrification Strategy as part of efforts to end the persistent collapses of the national power grid.

During its 146th meeting, chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, NEC announced the creation of a National Electrification Committee. The committee, led by Cross River State Governor Bassey Otu, will work to deepen state engagement under the Electricity Reform Act 2023 and the National Electrification Strategy and Implementation Plan.

Vice President Shettima emphasized the critical role of electricity in driving economic growth, describing access to energy as a fundamental right. “Electricity is the oxygen of economic growth,” he said. “Our blueprints must expand access, empower rural communities, and drive productivity, especially for MSMEs.”

Committee Members and Mandate

The committee includes governors from Katsina, Gombe, Osun, Imo, and Plateau states, as well as federal ministers and key stakeholders from the energy sector. Its focus will include:

• Empowering states to meet specific energy needs.

• Expanding access to affordable electricity.

• Driving private-sector-led renewable energy generation.

• Addressing long-term infrastructure and regulatory challenges in the power sector.

Rural Electrification and Energy Diversification

A presentation by the Rural Electrification Agency (REA) highlighted the need for a diversified and decentralized electricity system to enhance energy accessibility and affordability. NEC noted that empowering states could improve rural electrification, reduce grid dependence, and boost energy security.

Other NEC Highlights

State Police Submissions

NEC also directed states to submit their positions on state police within one week, aiming for a unanimous resolution on the matter by the next meeting.

Special Agro-Industrial Processing Zones (SAPZ)

NEC reviewed progress on SAPZ initiatives across eight states, with a second phase planned to expand the program to 24 additional states. The council called on states to fully engage in the program, which is expected to transform agricultural productivity and attract $1 billion in investments.

Nigeria Sovereign Investment Authority (NSIA)

NEC approved the nomination of a governing council for NSIA, commending its critical role in economic investments.

Innovations by NASENI

The National Agency for Science and Engineering Infrastructure (NASENI) presented innovative technologies, including electric vehicles, solar irrigation systems, and lithium battery production. States were urged to leverage NASENI’s initiatives for industrial growth and agricultural development.

Account Balances Update

The Accountant General of the Federation provided the following updates as of November 20, 2024:

• Excess Crude Account: $473,754.57

• Stabilization Account: ₦33.3 billion

• Natural Resources Account: ₦26.8 billion

NEC concluded the meeting with a call to states and stakeholders to work collaboratively on its resolutions, emphasizing the need for swift implementation of critical reforms.