President Bola Ahmed Tinubu, Friday signed into Law the Electricity Act which enables states to generate,transmit and distribute light in the country.
The ceremony is coming after twenty three years ,then President Olusegun Obasanjo prevented him from bringing a firm to generate electricity for Lagos. The he was to bring Enron a electrical generating firm from the United States to generate power for Lagos . President Olusegun Obasanjo government did so as it claimed electricity was on the exclusive list. By Friday signing ,the Electricity Act will replace the Electricity and Power Sector Reform Act of 20
The Act, as VON reported, will bring about the de-monopolization of Nigeria’s electricity generation, transmission, and distribution of electricity at the National level and empower states, companies, and individuals to generate, transmit and distribute electricity.
It provides a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) as well as encourage private sector investments in the sector.
The Electricity Act was first passed in July 2022 under the Muhammadu Buhari administration.
