Tinubu Signs Electricity Bill Into Law, Empowering Nigerian States, Companies, Individuals to Generate and Transmit Electricity. President Bola Tinubu has signed the much-touted electricity bill into law, opening the opportunity for states to legally generate, distribute and regulate power supply.
President Bola Ahmed Tinubu has assented to the Electricity Act 2023 which was initially passed by lawmakers in July 2022. The Electricity Act will replace the Electricity and Power Sector Reform Act of 2005.
This new law will empower states, companies, and individuals to generate, transmit and distribute electricity in the country.
Recall that the Electricity Act 2023 was initially passed by lawmakers in July 2022 to allow the states to issue licences to private investors who can operate mini-grids and power plants within the state.
But the Act precludes interstate and transnational electricity distribution.
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