- Vice President Shettima inaugurates NELMCO’s new headquarters in Abuja, charging the agency to strengthen electricity supply and sector credibility.
- The move supports power sector reform, improves liquidity management, addresses legacy liabilities, and signals commitment to investors and private partners.
Vice President Kashim Shettima inaugurated the new head office of the Nigerian Electricity Liability Management Company (NELMCO) in Abuja. He tasked the agency with playing a more decisive role in improving electricity supply across Nigeria. Shettima also reaffirmed President Bola Tinubu’s commitment to overhauling the power sector and delivering reliable service nationwide.
Speaking at the event, Shettima said energy security is central to national development. He urged NELMCO to maintain governance, transparency, and accountability. “The commissioning of this headquarters must symbolize modernisation, efficiency, and forward-thinking leadership,” he said. He commended the board, management, and staff for their dedication, calling them custodians of the sector’s credibility.
Shettima also described NELMCO as a strategic institution for addressing long-standing electricity sector challenges. He emphasised that the agency helps Nigeria confront “the burdens of yesterday so they do not mortgage the possibilities of tomorrow” and noted that energy security forms the foundation for national progress. In addition, he called on NELMCO to restore confidence in the Nigerian Electricity Supply Industry and support the government’s agenda to make the sector commercially viable and investment-ready.
The Vice President also encouraged private investors and international partners to seize opportunities in the sector. “We are creating a transparent, predictable, and investor-friendly environment. Institutions like NELMCO demonstrate our commitment to sustainable reform,” he added.
Earlier, NELMCO Vice Chairman and Minister of Finance, Wale Edun, highlighted the economic benefits of a stable power sector, especially for SMEs. Minister of Power Adebayo Adelabu described the new headquarters as a sign of the government’s determination to strengthen electricity market liquidity and manage legacy liabilities effectively. He noted that ongoing reforms, guided by the Electricity Act, empower states to actively participate in electricity generation and distribution.
Furthermore, Senate Committee on Power Chairman Enyinnaya Abaribe, represented by Senator Yisa Ashiru, said the facility reduces government spending on rent and reflects broader efficiency goals. House Committee on Power Chairman Victor Nwokolo stressed the urgent need for sector funding, warning that incomplete projects undermine progress.
NELMCO Managing Director Mojoyinoluwa Dekalu-Thomas said the agency has evolved beyond settling debts. It now serves as a clearing house for legacy liabilities, generating over N30 billion in revenue for the federal government.
Established in 2010, NELMCO manages debts and contractual obligations inherited from defunct power utilities. These liabilities had previously posed significant risks to investor confidence and sector stability. By acting as a repository, NELMCO allows generation and distribution firms to operate sustainably, improving liquidity, attracting investment, and enabling operators to focus on service delivery.
Meanwhile, persistent liquidity challenges, tariff shortfalls, and market inefficiencies have long hindered reliable power supply. NELMCO’s role is central to government reforms aimed at restoring confidence, strengthening financial discipline, and creating a stable electricity market.
The inauguration of the permanent headquarters signals renewed commitment to institutional capacity and long-term sector reform, coinciding with efforts to expand generation, improve transmission, and decentralise power supply under Nigeria’s updated legal and regulatory framework.