- Vice-President Kashim Shettima emphasized the importance of electricity as a fundamental right for economic growth, calling for accelerated implementation of the National Electrification Strategy.
- Shettima highlighted the potential of Nigeria’s creative industries, stressing that music, films, and art are key drivers of economic growth and job creation.
Vice-President Kashim Shettima has stated that electricity is the “oxygen of economic growth,” emphasizing that access to it is a fundamental right, not a privilege. He made this statement during the 146th National Economic Council (NEC) meeting held at the Presidential Villa in Abuja on Thursday, 22nd November, 2024. As is customary, the Vice-President presided over the meeting, which was attended by the 36 state governors, key ministers, and other members.
Shettima noted that the recent collapses in Nigeria’s national power grid have underscored the need to accelerate the pace of adopting and implementing the National Electrification Strategy. “The past few months of collapses in our national power grid compel us to reinforce the pace with which we are adopting and implementing the National Electrification Strategy,” he said. He further emphasized that the strategy must focus on expanding access to electricity, empowering rural communities, and driving productivity, particularly for Micro, Small, and Medium Enterprises (MSMEs).
“I hope that our discussions today will inspire solutions to light up homes, power businesses, and fuel Nigeria’s industrial future,” Shettima added. He made it clear that a private-sector-led distributed renewable energy generation approach is essential to increasing electricity access for households and small enterprises. “Whatever path we agree upon, it is clear that a private-sector-led distributed renewable energy generation approach is essential to increasing electricity access for households and small enterprises alike,” he said.
Following the discussions, the council resolved to reinforce the implementation of the National Electrification Strategy to address the collapse of the nation’s power grid. It also established a committee to address the challenges in the power sector.
Shettima also outlined several critical issues requiring urgent attention, including energy infrastructure, human capital development, and creative industries. Other areas of focus include fiscal strategy, industrial innovation, and long-term development planning, which he described as foundational for Nigeria’s transformation. “It is for this that experts and stakeholders from some of the critical sectors have been invited to share their insights and contributions,” he said.
Shettima concluded by urging the NEC to prioritize the transformation of Nigeria’s energy and creative sectors, recognizing their potential to reshape the nation’s economic future. He emphasized that empowering rural communities, supporting MSMEs, and harnessing the global appeal of Nigeria’s cultural industries are essential to fostering sustainable growth and innovation.
The Vice-President’s remarks underscored the need for collaborative efforts between government, the private sector, and key stakeholders to address pressing challenges and unlock opportunities for economic advancement.