The announcement was made on Thursday in a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
In addition, the President has redesignated the Office of the Special Adviser (Energy) as Special Adviser (Oil & Gas) in order to streamline responsibilities and eliminate overlaps within the energy sector governance structure.
Mr. Babalola, a former Minister of Power, is expected to bring extensive experience and deep technical knowledge of the challenges affecting Nigeria’s electricity value chain.
The statement noted that his appointment reflects the President’s commitment to a comprehensive and results-oriented reform of the power sector.
According to the Presidency, the task force he will lead is a high-level, delivery-focused body operating under direct presidential mandate to restore efficiency, discipline, and financial sustainability in the electricity sector. It will also strengthen coordination among relevant government agencies.
Its responsibilities include driving a full system reset of the power sector, implementing a “performance before expansion” strategy, reducing technical and commercial losses, and improving tariff discipline.
The task force will also work to enhance revenue collection and sector liquidity, restore grid stability, promote efficient electricity use across key industries, and develop Electricity Growth Zones.
Other priorities include reducing government fiscal exposure and delivering a 90-day implementation plan aimed at quick-impact reforms.
The Presidency further stated that the President expects Mr. Babalola to bring urgency, discipline, and strong execution capacity to the role in line with the Renewed Hope Agenda, with the goal of achieving measurable improvements in electricity supply and overall sector performance.