- The Federal Government has formed a committee to implement its Accelerated Stabilisation and Advancement Plan (ASAP), focusing on revitalising Nigeria’s energy sector.
- The committee will oversee initiatives to modernise power infrastructure and improve energy access.
The Federal Government of Nigeria has established a new committee to spearhead the implementation of its Accelerated Stabilisation and Advancement Plan (ASAP), with a notable emphasis on revitalising the energy sector. The committee’s inaugural meeting was held in Abuja on Monday and was led by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.
The ASAP, presented to President Bola Ahmed Tinubu on June 12, 2024, aims to address key challenges affecting Nigeria’s economic reform initiatives and stimulate development across critical sectors, including energy, agriculture, and health. The formation of this committee highlights the government’s commitment to tackling significant issues within these sectors, with a specific focus on enhancing the energy infrastructure.
In his address, Edun underscored that the ASAP is critical to President Tinubu’s broader reform agenda. The initiative is designed to drive sustainable development and address longstanding issues in the energy sector, which has historically faced challenges such as inadequate power supply and outdated infrastructure. The government aims to improve energy access and reliability by focusing on these areas, which are crucial for supporting industrial growth and economic stability.
The ASAP’s energy component will involve several strategic actions, including modernising power infrastructure and ensuring efficient delivery of energy resources. The committee will coordinate with relevant government agencies, including the Ministry of Power, to develop and implement practical solutions for these challenges. Adebayo Adelabu, the Minister of Power, will play a vital role in this effort, working closely with other committee members to oversee the execution of energy-related initiatives.
Additionally, the committee will work with stakeholders such as the Central Bank of Nigeria and the African Development Bank to mobilise resources and support for energy projects. The goal is to create a more reliable and sustainable energy sector to drive economic growth and development.
The committee’s formation marks a significant step toward addressing critical issues in Nigeria’s energy sector and reflects the government’s dedication to fostering progress and improving infrastructure. With a clear focus on precision and accountability, the committee is expected to drive substantial improvements in energy access and contribute to the country’s overall economic advancement.