The Electricity Act Bill, 2023, which was signed by the president in 2024, repealed the Electric Power Sector Reform Act, No. 6, 2005 and consolidated the laws relating to the Nigerian electricity supply industry.The new Nigerian Electricity Act 2023 is a landmark legislation that aims to reform the power sector nationwide and address its longstanding challenges.
Specifically, the Act seeks to provide an ideal legal and institutional framework to leverage the modest gains of the privatisation phase of the electric power sector to accelerate growth in power generation capacity and improve utilisation of generated power through increased investments in new and efficient power generation technology and revamping existing power plants.
Apart from providing a framework to stimulate the development and utilisation of renewable energy sources and create an enabling environment to attract investment in renewable energy, it provides a framework for the improvement of access to electricity in rural, unserved, underserved, peri-urban and urban areas through the use of conventional sources and renewable energy off-grid and mini-grid solutions as well as the promotion of indigenous capacity in technology for renewable energy sources...
The Act has several implications for NESI and its stakeholders, such that it empowers the Nigerian Electricity Regulatory Commission to regulate the electricity sector within Nigeria and transition regulatory responsibilities to state regulators when they are established. Others include the need for public awareness and education on the benefits and opportunities of the Act for electricity consumers and investors.
“All these as contained in Sections 3, are good and of great interest, but can they come to pass within an anticipated shortest time? Initiating the process for the preparation of these laudable ideas may for a long time never see the light of the day not to talk of doing it within one year, because of our failed systematic adherence to time frame,” he pointed out.
The lawyer stated that N280.98 billion has remained unpaid out of N1.063 trillion billed to customers in the first nine months of 2023. This figure, he argued, included the Federal Government’s N100 billion, which represents about 30 per cent of its indebtedness. He noted that the new Act repealed up to five Acts, consolidating the laws in the sector, including the Electric Power Sector Reform Act, 2005; Nigerian Electricity Management Services Agency Act, 2015; and various laws on hydroelectric power producing areas development.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: DailyPostNGR - 🏆 11. / 59 اقرأ أكثر »