In a move towards revitalising Nigeria’s energy sector, the Federal Government has revealed its plan to overhaul the structure and coverage of the Electricity Distribution Companies .
According to him, the proposed measures include: “Develop a 10-year plan to increase power generation capacity in line with the country’s needs,” showcasing a long-term vision for an energy-sufficient Nigeria. Akume said some key suggestions were to “raise the approval threshold for public procurement” to foster open bidding and transparency, and to “submit memos to the cabinet office ahead of time” for thorough analysis before Federal Executive Council meetings.Additionally, the SGF emphasised the need to “improve alignment of the budget for the MDAs to the president’s vision and strategic goals,” thus ensuring that budget allocations are closely linked to national development priorities.
The Renewed Hope Agenda, as outlined by the SGF, focuses on seven core areas with specific policies and priorities.He said the government aims to reform the tariff structure to promote trade while supporting domestic production and incorporating more equity financing, reducing reliance on debt financing for fiscal operations.