Electricity Act Ushers New Era, Says Shettima

Vice President Kashim Shettima has described the Electricity Act 2023 as a watershed for Nigeria’s energy industry and a new growth platform for the Niger Delta Power Holding Company (NDPHC).

A statement from NDPHC’s Head, Corporate Communications and External Relations, Emmanuel Ojor, on Friday in Abuja, quoted Shettima as speaking at NDPHC’s 20th anniversary celebration at the State House Banquet Hall, Abuja.

The vice president, who chairs the company’s board, commended the agency’s contributions to national development over the past two decades.

He said the new electricity law provides clearer legal authority, a stronger institutional footing, and enhanced commercial credibility, enabling NDPHC to compete, partner, and expand in a more open and dynamic power market.

According to him, the board is using the milestone to reposition NDPHC from an integration-driven entity to a commercially disciplined, market-focused enterprise, while remaining faithful to its national mandate.

He said priorities include extracting greater value from existing assets, strengthening contracts and market participation, deepening governance-led commercialisation, managing risks responsibly and investing in human capital.

“As Chairman, I state unequivocally that the board remains fully committed to providing strategic direction, upholding the highest standards of governance, supporting accountable decision-making, protecting shareholder value on behalf of Nigerians, and keeping NDPHC aligned with national energy and development goals,” Shettima said.

He also commended President Bola Ahmed Tinubu for restoring investor confidence in the power sector.

“At a time when the sector needed not just policy but results, Mr President has restored confidence through discipline and reform, creating conditions for institutions like NDPHC to thrive,” he added.

Earlier, Minister of Power, Chief Adebayo Adelabu, described NDPHC as a critical pillar of Nigeria’s electricity ecosystem, noting that through the National Integrated Power Project (NIPP), the company has built one of Africa’s largest portfolios of government-backed power assets.

Adelabu disclosed that NDPHC recently restored 345 megawatts of generation capacity to the national grid—120MW from Omotosho NIPP, 112.5MW from Benin NIPP and 112.5MW from Ihovbor NIPP—while also advancing the Light Up Nigeria project to deliver reliable power to industrial clusters nationwide.

“These achievements reflect the gains of the broader reforms under President Tinubu’s Renewed Hope Agenda to improve reliability, expand access and attract investment,” the minister said.

Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, praised NDPHC Managing Director, Engr. Jennifer Adighije, for what he described as outstanding performance since assuming office.

He stated that sustainable power supply is fundamental to industrialisation and national development, adding that recent improvements signal Nigeria is on the right path.

In her remarks, Adighije reaffirmed NDPHC’s commitment to strengthening Nigeria’s energy infrastructure across the value chain.

She said the company has added over 9,000 MVA of transformer capacity in transmission, delivered substations and line-bay extensions, and constructed hundreds of kilometres of transmission lines nationwide.

She added that NDPHC is adopting a customer-centric strategy, leveraging the Electricity Act to deepen partnerships with bilateral and regional players, including the West African Power Pool.

Adighije further disclosed that, with approvals from President Tinubu and the Minister of Power, NDPHC has approached the bond market under the power sector refinancing plan to address government indebtedness to generation companies, an initiative she said would be a game changer for the sector.