June 21, 2023 at 7:40 PM #53603Shekinah BramaModerator
President Tinubu Gives Green Light to Electricity Act, Promising Enhanced Power Sector
President Tinubu’s recent signing of the Electricity Act into law brings a ray of hope for a transformed power generation, distribution, and access landscape across Nigeria.
The newly enacted legislation aims to streamline and harmonize all electricity-related laws in the country, marking a crucial step towards a more efficient and robust power sector.
The Electricity Act introduces exciting opportunities for states, companies, and individuals to actively engage in electricity generation, transmission, and distribution, empowering stakeholders within the energy sector.
Notably, the law allows entities and individuals to construct, own, or operate power generation projects up to a maximum capacity of 1MW, as determined periodically by the Nigerian Electricity Regulatory Commission (NERC), without the need for a license.
This provision paves the way for greater inclusivity and decentralized power generation, enabling diverse entities to contribute to Nigeria’s energy landscape. The Act encourages participation from a wide range of stakeholders, fostering innovation, competition, and increased access to electricity.
For ordinary Nigerians, this development holds promising implications.
Many citizens have experienced frequent power outages in the past 48 hours, as electricity generation by existing power companies consistently falls short of demand. Shockingly, around 45% of Nigerian households still lack access to grid electricity as of 2020.
The Electricity Act introduces provisions that welcome new service providers at both state and national levels, instilling optimism for improved power supply.
However, the true impact of this milestone legislation will depend on effective implementation and sustained collaboration among all stakeholders.
Moving forward, it is crucial for the government, regulatory bodies, power companies, and other key players to work hand in hand to ensure the successful execution of the Electricity Act.
By harnessing the potential of this law and leveraging collective efforts, Nigeria can overcome its power challenges and provide its citizens with reliable and accessible electricity, driving progress and economic development nationwide.
June 21, 2023 at 8:13 PM #53606justseyiKeymaster
This is serious Up NEPA! Lol ????
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