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Wetin be Electricity Act wey Tinubu just sign into law
Nigeria President Bola Tinubu don finally sign di Electricity Act Amendment Bill (2024) into law.
Di president assent to di bill on Friday, 9 February.
Di Electricity Amendment Act of 2024 na di revised version of di Electricity Act of 2023, wey di president sign on 9 June, 2023.
Di electricity bill wey di president sign na Babajimi Benson wey dey represent Ikorodu Federal Constituency for Lagos sponsor di bill during plenary to di members of di house of representatives and senate.
National assembly pass di electricity act on 27 July, 2023.
Wetin e mean for di ordinary Nigerians
Di Electricity Amendment Act of 2024 wey be di revised version of di Electricity Act of 2023 go address di development and environmental concerns of host communities, and give five percent of di annual operating expenditures of power generating companies (GENCOs) from di previous year for di development of dia respective host communities.
Di bill go give funds set aside for di development of host communities to trustee/manager wey di GENCO and host community appoint to receive, manage and supervise infrastructural development in di host community.
Di new bill wey Tinubu sign go allow improvement in di access of electricity for rural, unserved, underserved, peri-urban and urban areas wit di use of renewable energy.
End of Di one wey oda users dey read well well
Wit di new bill, all 36 states go fit generate dia electricity and e go allow states, companies and individuals to generate, transmit and distribute electricity.
Di bill go allow state to fit give license to private investors to operate mini-grids and power plants within di state.
For di Electricity Act Amendment Bill (2024), Nigerian Electricity Regulatory Commission (NERC) go still dey regulate di electricity sector within Nigeria for states wey no get dia own regulators.
Di Electricity bill say NERC powers to regulate within Nigeria no go affect di powers of di states to make laws and create electricity markets within those states and to regulate those markets.
Di bill go also make am compulsory for electricity generating companies to either generate power from renewable energy sources, buy power generated from renewable energy, or buy any instrument wey represent renewable energy generation.
