Tinubu Enacts Revised Electricity Act Legislation

President Bola Tinubu has officially approved the Electricity Act (Amendment) Bill, 2024, solidifying its enactment into law. This pivotal move was confirmed by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, through a statement released on Friday, titled ‘President Tinubu assents to Electricity Act (amendment) bill.’

The Electricity Act (Amendment) Bill, 2024, is designed to tackle various issues, including the developmental and environmental concerns of host communities. Notably, it allocates five percent of the actual annual operating expenditures of power generating companies from the previous year to foster the development of their respective host communities, as disclosed by the Presidency.