President Bola Tinubu has officially endorsed a transformative roadmap for Nigeria’s electricity sector by approving the National Integrated Electricity Policy (NIEP), a blueprint designed to attract $122.2 billion in investments aimed at revamping the country’s power industry.
The approval came during Monday’s Federal Executive Council meeting, where the long-anticipated policy, originally submitted in December 2024, was ratified. This marks a major milestone in efforts to reform the Nigerian Electricity Supply Industry (NESI).
The policy sets forth a comprehensive framework for sector-wide reform, in line with national development objectives and international standards, fulfilling the mandate of Section 3(3) of the amended Electricity Act 2023.
