11 Interesting Facts About The 2023 Electricity Act Signed By President Bola Tinubu

Date: 10-06-2023 7:28 am (10 months ago) | Author: Mister Jay Wonder
- at 10-06-2023 07:28 AM (10 months ago)

For the uninitiated, President Bola Tinubu signed into law the 2023 Electricity Act on Friday, June 9, 2023.

The new law, passed by lawmakers in July 2022, replaces the 2005 Electricity and Power Sector Reform Act and seeks to liberalise the Nigerian power sector.

The main aim of the bill is to create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI).

With the 2023 Electricity Act now in operation, the age-long issue of monopoly in electricity generation, transmission, and distribution at the national level will no longer be tenable.

11 benefits of the newly signed 2023 Electricity Act
1. The Nigerian Electricity Regulatory Commission (NERC) will act as the regulator of the Nigerian electricity sector.

2 The law allows states, companies, and individuals to generate, transmit and distribute electricity.

3 Anyone licensed to generate electricity under the new law bears the responsibility to meet renewable generation obligations as may be prescribed by NERC.

4 The commission can surrender regulatory responsibilities to state regulators when they are established.

5 NERC will not transition regulatory powers to a state until such a state has passed its electricity market laws.

6 It empowers anyone to construct, own, or operate an undertaking for generating electricity not exceeding one megawatt in aggregate at a site, or an undertaking for distribution of electricity with a capacity not exceeding 100 kilowatts in aggregate at a site, or such other capacity as the commission may determine from time to time, without a licence.

7 Electricity generating companies will be mandated to either generate power from renewable energy sources, purchase power generated from renewable energy or procure any instrument representing renewable energy generation.

8 The law empowers lawmakers to carry out oversight responsibilities and function over the NESI through its respective committees on Power in both the Senate and House of Representatives.

9 Though states are allowed to regulate electricity markets by issuing licences to private investors who can operate mini-grids and power plants within the state, the act prohibits interstate and transnational electricity distribution.

10 For now, only three states which include Lagos, Edo, and Kaduna, have in place electricity market laws and can start regulating their markets.

11 For other states without electricity market laws, NERC will continue to regulate their electricity generation and transmission.

Posted: at 10-06-2023 07:28 AM (10 months ago) | Addicted Hero
- Dopybadass at 10-06-2023 07:33 AM (10 months ago)
Online (m)
From all the reasons stated,I no see electricity power supply will be constant,light no still dey oh
Posted: at 10-06-2023 07:33 AM (10 months ago) | Gistmaniac
- kp45 at 10-06-2023 08:00 AM (10 months ago)
Posted: at 10-06-2023 08:00 AM (10 months ago) | Addicted Hero


  1. VIDEO of a Foreign Construction Worker Playing With Most Wanted Bandits at Work Site in Zamfara

  2. Regina Daniels Reacts as Co-Wife, Laila Charani Posts Romantic Video with Husband Ned Nwoko

  3. Family Seeks to Raise $70k To Bring Home Nigerian Bodybuilder Shot Dead By Wife in US

  4. Meet Uzoma Odimara, aka ‘Area Scatter’ Nigeria’s First Publicly-Known Crossdresser

  5. PICS: Ex Ooni Of Ife's Wife, Queen Naomi Ties The Knot Again On Her 31st Birthday

  6. Victor Boniface Shares Inspiring Photo After Winning First Title With Bayer Leverkusen

  7. Kwara Police Arrest 46 Suspects After Cult Clash

  8. VIDEO: Late Sylverter Oromoni’s Father Blows Hot As He Rejects Coroner Judgment

  9. Ex US Pres, Donald Trump Risks 4yrs Jail Term as he Appears in Court to Face Criminal Trials

  10. Omokri Hails Dunamis Pastor, Eneche For Apologizing To Woman, Vera Anyim Accused Of Giving Fake

  11. Junior Pope: Yul Edochie's Estranged Wife, May Mourns Victims Of Boat Mishap

  12. 22Yr Old Man, Francis Okoye Arrested Over Unlawful Possession Of Fire Arm

  13. UPDATE: President Tinubu Declares April 7 As National Police Day

  14. Man, Bamidele Adeleke Docked For Stealing N2m Batteries In Ibadan

  15. Forgery: EFCC Arraigns Father-In-Law Alaba Alakija, Daughter-In-Law Oyinkansola In Lagos

  16. VID: BBN Star, Phyna Reacts To Colleague, DeeOne’s Offer To Her Father At An Event

  17. OAP, Moet Abebe Shares Receipt Of Her Outing, Insist Men Should Spend N7M Or More In Club

  18. "Stop Linking Actor, Junior Pope’s Death To Marine Kingdom" - Prophet Fufeyin Warms

  19. PDP NEC Meeting: Tensions Rise Within Wike’s Camp As Gov. Makinde Dumps G-5 Governors

  1. Controversy Surrounds Former BBNaija HM, Ka3na Jones After Ritual Video With Gospel Music

  2. Shock As Video of Woman $exually Abusing A Child Goes Viral; Lagos Authorities Seek Perpetrator

  3. Tears Flow As Beautiful Lady Dies After Alleged Poisoning At Shop Opening Party (Video)

  4. Body of Makeup Artiste, Abigail Frederick, Who D!ed in Boat Mishap With Jnr Pope Exhumed

  5. Nigerian Gov.t Nears Extradition Of Binance Executive Involved In $35.4M Money Laundering

  6. Brutal Child Abuse Incident Captured On Video Prompts Nationwide Outcry (Watch With Caution)

  7. U.S-Based Model's Accidental Post Of Her With Davido In A 'Cozy" Mood Sparks Rumors(Photos)

  8. 18-Yr-Old Usman Umar To Be Arrested For Fatal Stabbing Of Friend, Usman Abubakar In Adamawa

  9. The Real Reason Tinubu Government Went After Bobrisky - Reno Omokri Drops Bombshell

  10. Repentant Boko Haram Member Enlisted Into Nigerian Army Slits Woman’s Throat In Enugu Barracks