TINUBU SIGNS ELECTRICITY ACT AMENDMENT BILL

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TINUBU SIGNS ELECTRICITY ACT AMENDMENT BILL INTO LAW

President Bola Tinubu has signed the Electricity Act (Amendment) Bill 2024 into law.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, announced this in a statement on Friday.

The presidential media aide said the Electricity Act (Amendment) Bill, 2024, seeks to address the development and environmental concerns of host communities.

The bill seeks to set 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 statement 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.”Sponsored by Honourable Babajimi Benson, who represents Ikorodu federal constituency of Lagos State, the bill was passed by the House of Representatives on July 27, 2023, and the Senate on November 14, 2023.

About Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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