Tinubu Endorses Amended Electricity Act Bill

Tinubu Endorses Amended Electricity Act Bill

The President's Special Adviser on Media and Publicity, Ajuri Ngelale, disclosed this

information in a statement on Friday. He explained that the Electricity Act (Amendment) Bill, 2024, aims to tackle the developmental and environmental issues of host communities by allocating five percent of the previous year's actual annual operating expenses of power generating companies (GENCOs) for the development of these communities.

"The bill also stipulates that the funds allocated for the development of host communities will be overseen, managed, and utilized for infrastructure development within the host communities by a trusted Trustee/Manager jointly selected by the relevant GENCO and their respective host community," the statement outlined.
Proposed by Honorable Babajimi Benson, representing the Ikorodu federal constituency of Lagos State, the bill was approved by the House of Representatives on July 27, 2023, and later endorsed by the Senate on November 14, 2023.

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