“He Is The Best President Already”- Nigerians Praise Bola Tinubu As He Signs Electricity Act Into Law (DETAILS)

“He Is The Best President Already”- Nigerians Praise Bola Tinubu As He Signs Electricity Act Into Law (DETAILS)

Written By Oshiobugie Omo-Ikirodah

President Bola Tinubu has given his assent to the Electricity Act 2023, which serves as a replacement for the previous Electricity and Power Sector Reform Act of 2005. This new act aims to bring about the de-monopolization of Nigeria’s electricity generation, transmission, and distribution at the national level. It empowers states, companies, and individuals to participate in the generation, transmission, and distribution of electricity. CONTINUE READING

RELATED STORIES:

• Today Is The Best Day Of My Life, I Never Knew Tinubu Is So Intelligent, Prepared For Nigeria- LP Lawmaker-elect Says (Video) – BushRadio (bushradiogist.com)
• Health Rumors Debunked As President Tinubu’s Vigorous Schedule Continues – BushRadio (bushradiogist.com)

The Electricity Act was initially passed by lawmakers in July 2022 during the administration of President Muhammadu Buhari. It provides a comprehensive framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) and encourages private sector investments in the sector.

One of the key provisions of the Electricity Act is the empowerment of states in the electricity sector. States are now authorized to issue licenses to private investors for the operation of mini-grids and power plants within their respective jurisdictions. However, the Act prohibits interstate and transnational electricity distribution.

The Act also delineates the powers of the Nigerian Electricity Regulatory Commission (NERC). NERC will have the authority to regulate the electricity sector in Nigeria while respecting the states’ ability to create electricity markets and enact laws within their territories. The Act outlines the process through which NERC can transfer regulatory responsibilities to state regulators once they are established. Until a state has enacted its own electricity market laws, NERC will continue to regulate electricity business conducted exclusively within that state.

Currently, Lagos, Edo, and Kaduna states have already enacted electricity market laws and can commence the regulation of their respective markets.

Take a look at some positive reactions below;

MR FEMI-“With barely 12days in Office, President Tinubu is already working like he’s been in Aso Rock for 4 years.
President Tinubu has met with Governors from 36 states, he has met with the Oil Marketers, he has sworn in the SGF, his Aides are up and running.
The Nigerian GDP is rapidly growing, our economy is gaining grounds again,Now electricity act. I swear WE made the right choice!.”

DjKhayslay-“How Mamy Days With So much Approved Improvements. Best Ever.”

Wigbymoh-“The rate at which we have light this days ehn….. May God strengthen him to do more and make things right for the benefit of us all .”

Vcee-” okay I’m an Obedient but this Man is more active than Buhari in just 2week, He is working”

Cashmonie-“There is a sense of truthfulness and trustworthiness in Asiwajus regime. Thanks for bringing the renewed hope to Nigerians. You have done exceptionally well in this few days of your administration. Keep it up Asiwaju.”

Consult-“Omo this man dey give me joy and hope on daily basis, May God let him continue this kind work through his tenure.”

Source: Bushradiogist