Senate passes electricity bill to boost power distribution
The Senate has passed the Electricity Bill 2022 and called for increased investment and reform of the Nigeria Electricity Supply Industry (NESI).
The passage of the Bill followed the consideration of a report by the Senate Committee on Power at plenary.
Chairman of the Committee, Senator Gabriel Suswam (Benue North East), in his presentation, said the bill seeks to provide an ideal legal and institutional framework to leverage on the modest gains of the privatisation phase of the electricity power sector in Nigeria, among others.
According to him, the Bill would improve utilisation of generated power through increased investments in new technologies to enhance transmission and distribution of generated power in order to minimise aggregate value chain loses, when signed into law by President Muhammadu Buhari.
He said the proposed law would “reinvigorate the institutional framework for the reform of the Nigerian Electricity Supply Industry (NESI) initiated and implemented by the Federal Government.”