ABUJA — The Federal Government has reaffirmed its commitment to sustained reforms in the power sector, with Vice President Kashim Shettima declaring that the enactment of the Electricity Act 2023 represents a “defining turning point” for Nigeria’s energy landscape.
Shettima made the declaration on Thursday at the State House Banquet Hall, Abuja, during an event marking the 20th anniversary of the Niger Delta Power Holding Company (NDPHC), where he serves as Board Chairman.
In a statement by the company’s Head of Corporate Communications, Emmanuel Ojor, the Vice President stated that the new legislation provides NDPHC with “clearer legal authority, enhanced commercial credibility, and stronger institutional footing” to operate within a more dynamic energy market.
He said the board views the milestone as an opportunity for the company’s evolution “from an integration-driven entity to a commercially disciplined and market-focused enterprise,” while remaining faithful to its national mandate.
“As Chairman, I wish to state unequivocally that the board remains fully committed to its responsibilities. We will continue to provide strategic direction, uphold the highest standards of governance… and keep NDPHC aligned with national energy and development goals,” Shettima asserted.
The Vice President commended President Bola Ahmed Tinubu for restoring investor confidence, describing him as “a magician working not with illusion, but with discipline and reform.”
Ministers Highlight NDPHC’s Critical Role
The Minister of Power, Chief Adebayo Adelabu, underscored NDPHC’s role as a key pillar in expanding Nigeria’s electricity generation capacity over the past two decades. He highlighted that through the National Integrated Power Project (NIPP), the company has developed one of the largest portfolios of government-backed power assets in Africa.
Adelabu disclosed tangible recent gains, noting that NDPHC has restored 345 megawatts of generation capacity to the national grid. This includes 120MW from Omotosho NIPP, 112.5MW from Benin NIPP, and 112.5MW from Ihovbor NIPP.
He also highlighted the company’s implementation of the Light Up Nigeria project, aimed at delivering reliable electricity to industrial clusters to boost nationwide industrialization.
Leadership Commended
The Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, commended the performance of NDPHC’s Managing Director, Engr. Jennifer Adighije, describing it as “outstanding” within the short period she has led the company.
“I am confident that Nigeria is headed in the right direction,” Ekpo said, emphasizing that sustainable power supply is fundamental to national development and industrialisation.
In her remarks, Engr. Adighije reaffirmed NDPHC’s commitment to strengthening Nigeria’s energy infrastructure. She detailed achievements beyond generation, including adding over 9,000 MVA of installed transformer capacity and constructing hundreds of kilometres of transmission lines across the country.
She also disclosed a strategic financial initiative, stating that with presidential approval, NDPHC has approached the bond market under a power sector refinancing plan to raise capital to defray government indebtedness to power generation companies—a move she described as a potential “game changer.”
The anniversary event served to spotlight NDPHC’s legacy while charting a reform-driven future for the company under the framework of the Tinubu administration’s Renewed Hope Agenda.
