Vice President Kashim Shettima, commissioned the new head office of the Nigerian Electricity Liability Management Company, NELMCO, in Asokoro District, said the administration of President Bola Ahmed Tinubu remains determined to reform and strengthen Nigeria's power sector.

He noted that while the promise of every nation rests on its abundance, Nigeria cannot afford to gamble with energy security.

The Vice President said what the administration is set out to achieve requires a commitment to data-driven decision-making, intelligent use of technology in asset management, and stronger partnerships with both local and international stakeholders.

Underscoring the crucial role NELMCO plays in the power sector, Shettima said the electricity firm represents the nation's commitment to confronting "the burdens of yesterday so that they do not mortgage the possibilities of tomorrow."

He noted that the power electricity is an assurance that the Tinubu administration understands that "energy security is the ultimate foundation upon which national progress must stand."

Categorically, the VP said Nigeria is counting "on the aspiration of NELMCO to restore a measure of confidence within the Nigerian Electricity Supply Industry."

Vice Chairman of the NELMCO Board and Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said a stable power sector, which NELMCO is working to achieve, will positively impact SMEs, while supporting Nigeria’s overall economic growth.

He noted that President Tinubu remains focused on transforming the power sector, leading to several initiatives and policies, including the recent establishment of the Grid Asset Management Company (GAMCO), which, according to him, addresses critical aspects of the power sector and the country as a whole.

Also, the Minister of Power, Adebayo Adelabu, said the new edifice is a clear demonstration of Federal Government’s efforts to strengthen power sector liquidity, while enabling NELMCO to efficiently manage identified legacy liabilities.

Chairman of the Senate Committee on Power, Enyinnaya Abaribe, represented by Senator Oyelola Yisa Ashiru, said the new head office will save the government funds previously spent on rent, thereby underscoring the Tinubu administration’s commitment to efficiency.

He added that the National Assembly remains committed to supporting NELMCO and other agencies with the necessary framework to deliver on their respective mandates.

The Managing Director and Chief Executive Officer of NELMCO, Mrs. Mojoyinoluwa Dekalu-Thomas, said NELMCO now serves as a clearing house for legacy debt.

She disclosed that the agency has moved beyond debt settlement and has “generated revenue in excess of N30 billion for the Federal Government.”