Home News Tinubu signs amended electricity act Bill

Tinubu signs amended electricity act Bill

by Maryam Olaniyi
0 comment
Tinubu to participate in COP 28 climate summit in Dubai, departs Nigeria Wednesday

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.

He said 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.

You may also like

About Us

There are many voices out there covering news, music, movies and entertainment in general. Idannews is there to make those voices louder and connect with a global audience.

cropped IDAN2