The Special Adviser to the President on Energy, Mrs Olu Verheijen while marking her remarks at the event. Photo credit: Optimum Times.
…Tasks Commission for further innovative reforms
The Presidency has applauded milestones record by the Nigerian Electricity Regulatory Commission (NERC) over the past two decades of its regulatory oversight of the power sector, on which foundation to build upon to achieve power access for all Nigerians.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, conveyed President Bola Tinubu’s commendations while speaking at the ongoing commemoration of the 20th anniversary of the NERC with the theme: : “Strengthening Power Sector Governance for Sustainable Future”, held Thursday.
While acknowledging successes so far achieved in the power sector which she noted NERC remains the central force driving it, she assured the continuing commitment and capacity of President Bola Tinubu to mould and deliver impactful reforms across every facet of the Nigerian economy, including the electricity sector.
She said: “At the presidency, we have the privilege of working very closely with NERC as our trusted partner in what is undoubtedly a complex and evolving environment. I particularly recall our collaboration around the tariff review last year. And that is a masterclass in how government agencies should work together.
“President Bola Tinubu who has demonstrated beyond doubt, his commitment and capacity to deliver, mould and impactful reforms across every facet of the Nigerian economy, including the electricity sector.
“Since 2023, that commitment has translated with active support of their interchangeable actions, including the passage and presidential assent of the new electricity act, transfers of electricity market regulatory oversight to state electricity regulators and state electricity regulatory commissions, the presidential metering initiatives, the issuance of mini grid regulations, and the eligible customer regulations of 2024 amongst others.”
Noting that NERC remained central to the success of these initiatives despite being indeed demanding for the Commission, the Special Adviser expressed confidence that NERC possesses the institutional strength and expertise to meet these responsibilities, while continuing to deepen public trust and confidence in a sector that touches every Nigerian home, business and community.
She affirmed that over the past two decades, NERC has evolved into a formidable and respected regulator, an institution distinguished by leadership in design and implementation of regulatory instruments and its sector oversight and reform.
She observed that though NERC itself emerged from a bold reform effort that produced the landmark electricity Act of 2005, it has transformed Nigerian electricity landscape.
According to her, “Today’s gathering to commemorate our 20th anniversary is therefore a celebration of outstanding vision and oversight. And the enduring power of carefully crafted and faithfully implemented policy and regulation.
“We’re able to gather here as sector participants and stakeholders because the solid foundations laid by visionary pioneers and the challenge before us is therefore clear, to strengthen and build up those foundations in ways that will force closer to our shared goal of the universal access of for all Nigerians.
“As you reflect on NERC’s remarkable first two decades and the lessons learned along the way, this milestone also offers an opportunity to look ahead to what the next phase of growth and innovation.
“The pace of evolution and the electricity supply industry will be only accelerated, driven by energy transition and by technological disruption. Our policies and regulations must continue to evolve with these changes.
“One thing is President Tinubu’s electricity reforms are here to stay, delivering greater reliability, access and affordability for all Nigerians under the capable oversight of NERC”, she assured.
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