- Nigeria’s president, Bola Ahmed Tinubu, through the Minister of Innovation, Science and Technology, Chief Uche G. Nnaji, has officially inaugurated the National Energy Masterplan Implementation Committee (NEMIC) of the Energy Commission of Nigeria.
- The Committee which is saddled with the responsibility of driving a holistic implementation of the masterplan will see to the realization of the National Energy Acceleration Program and the National Energy Fund amongst others.
The announcement was made during the ministerial inauguration of NEMICearlier constituted on October 17, 2024 by the Commission. The Committee has been working to lay the foundation for Nigeria’s Energy transformation and today’s inauguration affirms their readiness to lead the implementation of the National Energy Masterplan.
The National Energy Fund (NE-FUND) to be developed in line with the Masterplan, was approved by the Federal Executive Council in 2021 in the Masterplan. The Fund is designed to support large-scale renewable energy projects and new energy infrastructure across the country. It will serve as a financial platform to attract both public and private investment into Nigeria’s Energy sector.
The fifty-billion-dollar goal gives NEMIC the mandate to source and mobilize funding for the purpose of investing in and developing Nigeria’s core renewable and new energy infrastructure. This includes solar, wind, hydro, and emerging technologies that will help expand access to clean energy, reduce dependence on fossil fuels, and create new jobs in the Energy economy.
The Federal Government reaffirmed its full support for NEMIC and pledged to provide the necessary policy backing and enabling environment to ensure the success of the initiative. The Director General commended the Honourable Minister of Innovation, Science and Technology for his visionary leadership in driving the process of constituting this Committee. According to him, the Minister’s support for evidence-based planning, technological innovation, and stakeholder engagement has given renewed momentum to the Energy Commission’s mandate and strengthened the Commission’s resolve to deliver tangible results for Nigerians. He also recognized the invaluable contributions of development partners, technical experts, and private sector players who have worked with the Commission during the preparation of the Masterplan. He asserts that the next phase requires even closer collaboration, regular monitoring, and adaptive implementation to ensure that the strategies outlined translate into measurable outcomes.
Development partners and private sector stakeholders were also present to show their commitment to working with the Committee including the management of Mainstream Energy Solutions Limited, Polaris Bank, Stanbic IBTC Limited, First Trustee Limited, First Cap Limited, CardinalStone Trustees Limited, andCardinalStone Asset Management Limited.
The National Energy Masterplan provides an integrated framework for harnessing Nigeria’s abundant energy resources – oil, gas, coal, renewables, and emerging technologies – to meet our growing domestic demand while also positioning Nigeria as an energy hub within the West African sub-region. The inauguration of this Committee is therefore a watershed in the history of the growth and development of the Nigeria energy sector. It is hoped that the cardinal programs of the Nigeria Energy Acceleration Program and the NationalEnergy Fund will be fully realised.
Author: Bryan Groenendaal
