President Bola Tinubu has signed the new Electricity Bill into law.
By this development, States, Companies and Individuals are now empowered to generate, transmit, and distribute electricity.
The new electricity law repeals the Electricity and Power Sector Reform Act of 2005 and consolidates the laws relating to the Nigerian Electricity Supply Industry (NESI).
The senate passed the Bill in July 2022 to solve the electricity challenges in the country.
Meanwhile, states have been granted constitutional authority to enact laws that allow them to generate, distribute, and transport electricity within its boundaries, including territories formerly covered only by the National Grid.
President Bola Tinubu, who spoke on the new law during an interactive session with Traditional Rulers on Friday, said the constitutional amendment permits Nigeria’s 36 states to generate electricity.
‘‘That’s devolution of power. That should be our contribution to the developmental projects you are looking for and we will continue in ways that will help our people,’’ he said.
