PRESIDENT TINUBU APPOINTS MINISTER OF STATE FOR PETROLEUM RESOURCES (GAS) AS CO-CHAIRMAN OF NCDMB GOVERNING COUNCIL. (PHOTO). #PRESS RELEASE.

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 STATE HOUSE PRESS RELEASE  PRESIDENT TINUBU APPOINTS MINISTER OF STATE FOR PETROLEUM RESOURCES (GAS) AS CO-CHAIRMAN OF NCDMB GOVERNING COUNCIL In line with his avowed commitment to establish a more efficient, targeted, and consistent approval process for unique oil and gas projects in the country, President Bola Tinubu has approved the appointment of Mr. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), as the Co-Chairman of the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB). This is also to further ensure effective oversight of the gas aspect of the nation's assets. The President remains committed to unlocking Nigeria's immense gas potential to stimulate industrial development, job creation, and sustainable economic growth. Chief Ajuri Ngelale Special Adviser to the President (Media & Publicity) May 9, 2024
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NIGERIA'S POWER SECTOR NOT PERFORMING OPTIMALLY,HOUSE OF REP IS READY FOR LEGISLATIVE INTERVENTION.{PHOTOS}.#PRESS RELEASE.

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The Nigerian electric power sector is not performing optimally, a situation that must change for the better. We all, for the most part, agree that it is the responsibility of the government to do something about this situation. Ordinary citizens, power industry operators, regulators and government all have different understandings of why the dysfunction in the power sector exists and persists and there are just as many ideas and recommendations for how to fix it.


 Electric Power Sector Reform Act, 2005 is a substantial piece of legislation and remains the most significant statutory reform of the power sector in Nigeria for a generation.


When it was written and passed into law, it was intended that the provisions of the Act would establish a new framework for optimal public-private sector collaboration to accelerate development in the power sector and promote efficiency across the power sector value chain.


The extent to which these expectations have been met is one of the many issues in contention. Answering the question of what needs to be done to improve the Act so that it serves the best purposes of our country is the reason we have gathered here in this public hearing.


The public hearing was an opportunity for stakeholders, both in government and the private sector, to participate in a structured conversation and contribute views that will help the House undertake a long-overdue reform of one of the critical legislation governing the operations of the power sector in Nigeria.


In considering the Bills, the stakeholders need to set aside all other considerations except those that are in the best interests of Nigeria, the House would do everything within its constitutional authority to consider and safeguard all interests within reason.


I commend the chairman and members of the House Committee on Power for their hard work on the bills and appreciated the efforts of all who worked to improve the legislative proposal to this advanced stage.

More photos below.

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