ELECTRICITY ACT 2023, SIGNED BY PRESIDENT TINUBU, GIVES STATES AND PRIVATE ENTERPRISES THE AUTHORITY TO PRODUCE ELECTRICITY.

The Electricity and Power Sector Reform Act of 2005 has been replaced by the 2023 Electricity Act, which was brought into law by President Bola Ahmed Tinubu.

The recently passed bill would end the national monopoly on energy generation, transmission, and distribution in Nigeria.

This new law will give governments, businesses, and individuals more power to produce, transmit, and distribute electricity across the nation.

Remember that parliament first approved the Electricity Act 2023 in July 2022 to give states the authority to grant permits to private investors so they can run mini-grids and power plants within the state. However, interstate and international electricity distribution is prohibited by the Act.