The Chairman of the House Committee on Power, Victor Nwokolo, has urged greater investment in the electricity sector as the country grapples with widespread power outages.

He made the appeal during the inauguration of the Nigerian Electricity Liability Management Company headquarters in Abuja on Thursday, According to the News Agency of Nigeria.

Nwokolo noted that the recommendation was prompted by the 2025 budget performance report of the Ministry of Power and its agencies, recently presented to the National Assembly.

The chairman stated that the power sector is a vital engine of the economy, and timely funding of electricity projects would boost economic activities.

“Without finance, the power sector cannot do anything; the power sector needs to be given proper attention.

“The power sector is a sector that, if you have invested three trillion and it is remaining one billion to complete the project, it is still as good as if you had not started.

“I want to appeal to the Federal Government that urgent steps must be taken for the release of funds to the Ministry of Power and the agencies under it.

“This is because the sector directly impacts the lives of the people; the power sector is a major catalyst that drives the economy.

“The Nigerian economy is not driven by government alone but also by small-scale industries, and if there is no power, it is not good enough,” he said.

Meanwhile, Chairman of the Senate Committee on Power, Enyinaya Abaribe, said the new NELMCO headquarters would provide a conducive environment for staff while reducing government expenditure on rented offices.

He added that NELMCO plays a strategic role in managing legacy liabilities and facilitating investments in the power sector, helping to promote a more competitive electricity market.

The Managing Director of NELMCO,
Mojoyinoluwa Dekalu-Thomas, said the company has successfully verified and settled billions of naira in inherited obligations owed to international oil companies, gas suppliers, equipment vendors, state governments, and former staff members.

Power supply has become increasingly erratic, with many Nigerians and business owners expressing frustration over frequent outages.

The Federal Government attributed the situation to a shortage of gas and said it is taking steps to resolve the supply gap.