The 2023 Electricity Act will de-monopolise electricity generation, transmission and distribution at the national level.
President Bola Tinubu. [Presidency]
President Bola Tinubu has signed the electricity bill into law to empower state government, companies and individuals to generate, distribute and transmit electricity.
The bill which was passed in July 2022 repeals the Electricity and Power Sector Reform Act, 2005.
The main aim of the bill is to create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI).
Now that it’s been signed into law, the 2023 Electricity Act will de-monopolise electricity generation, transmission and distribution at the national level.
This means state governments will be granted constitutional authority to enact laws that allow them to generate, distribute, and distribute electricity within their boundaries.
State governments will also be able to issue licenses to private investors who have the ability to operate mini-grids and power plants within the state.
Bayo Wahab Bayo Wahab is a news reporter at Pulse. He is a passionate journalist with core interest in Special reports, development and investigative journalism.. Reach him via [email protected] JOIN OUR PULSE COMMUNITY!
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