Tinubu Signs New Electricity Act (Amendment) Bill Into Law

President Bola Tinubu has signed the Electricity Act (Amendment) Bill, 2024, into law. This move underscores a  shift in energy policy, prioritizing the needs of host communities.

“Tinubu’s commitment to equitable development shines through this legislation,” stated Ajuri Ngelale, Tinubu’s Special Adviser on Media and Publicity. “With this amendment, we are not just powering homes, but empowering communities.”

The Electricity Act (Amendment) Bill, 2024, allocates five percent of power-generating companies’ annual operating expenditures for the development of their host communities. This direct allocation aims to bridge the gap between energy infrastructure development and community welfare.

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“This bill heralds a new era of collaboration between energy stakeholders and host communities,” remarked Babajimi Benson, the bill’s sponsor, and representative of Ikorodu Federal Constituency, Lagos State.

Moreover, the legislation mandates a transparent and accountable mechanism for managing these funds. A reputable Trustee/Manager, jointly appointed by the respective power-generating companies and their host communities, will oversee infrastructure development projects.

“This is not just about electricity; it’s about empowering communities to thrive,” emphasized Ngelale. “President Tinubu’s vision is clear: sustainable progress for all Nigerians.”

As Nigeria strives for energy security and socio-economic development, Tinubu’s decisive action sets a precedent for inclusive governance and sustainable growth. With the Electricity Act (Amendment) Bill now law, the nation takes a step towards a brighter, more empowered future.