JUST IN: Tinubu Signs Electricity Act (Amendment) Bill

 

President Bola Tinubu has assented to the Electricity Act (Amendment) Bill, 2024, into law.

 

The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, announced this in a statement on Friday.

 

According to the statement, the Electricity Act (Amendment) Bill, 2024, seeks to address the development and environmental concerns of host communities, and sets aside five percent of the actual annual operating expenditures of power generating companies (GENCOs) from the preceding year for the development of their respective host communities.

 

“The bill further provides that the funds set aside for the development of host communities will be received, managed, and administered for infrastructure development in the host communities by a reputable Trustee/Manager to be jointly appointed by the respective GENCO and their host community,” the statement read.

 

The bill which was Sponsored by Honourable Babajimi Benson, representing Ikorodu federal constituency of Lagos State, was passed by the House of Representatives on July 27, 2023, and the Senate on November 14, 2023.

See also  Lagos warns developers over illegal buildings at Trade Fair Complex

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Group petitions EFCC, ICPC over alleged diversion of Ondo LG funds

Sowore Escapes Gunfire as Security Operatives Arrest Kanu’s Brother, Lawyer During Protest

Maths, English Remain Compulsory for O’Level Students – FG Confirms

Drama as Senator Ned Nwoko Accuses Wife Regina Daniels of drug abuse, destructive behaviour

Tension Mounts in Abuja Ahead of #FreeNnamdiKanuNow Protest

“Not again, I cannot stand the violence, it is too much” — Regina Daniels Cries Out In Viral Video

Group petitions EFCC, ICPC over alleged diversion of Ondo LG funds

Sowore Escapes Gunfire as Security Operatives Arrest Kanu’s Brother, Lawyer During Protest

Maths, English Remain Compulsory for O’Level Students – FG Confirms

Drama as Senator Ned Nwoko Accuses Wife Regina Daniels of drug abuse, destructive behaviour