Here are ten important things Nigerians should know about it as revealed by the Asiwaju Bola Ahmed Media Centre.While the Buhari bill took electricity off the exclusive list, the act will provide a framework that will guide the post-privatization phase of the Nigerian Electricity Supply Industry and encourage private sector investments.
The act enables states, companies and individuals to produce, transmit and distribute electricity promoting empowerment in the energy sector. The act grants lawmakers the power to carry out oversight responsibilities and function over the NESI through its respective committees on Power inThe Act 2023 replaces the Electricity and Power sector reform act 2005.
Meanwhile, the Electricity Act was first passed in July 2022 and it was made to replace the Electric Power Sector Reform Act , which was signed into law by former President Olusegun Obasanjo in 2005.