The Electricity Amendment Act of 2024 has been signed into law by Mr. President.
This was revealed on Friday by the Special Adviser to the President on Media and pubilicity, Anjuri Ngelale.
The bill was passed by the lower Legislative Chamber (HOR) of the National Assembly last year, 7th of July 2023.
Honourable Babajimi Benson of Ikorodu federal constituency, Lagos State brought forward the bill to the floor of the house.
Thus, the Electricity Amendment Act will tackle the underdevelopment grievances of local communities and 5% of the yearly consumption of Power Generating Companies, GENCOs, from the year before will be saved to develop each local communities.
In addition, the 5% put aside will be used for infrastructural developments in these communities while being looked after and managed by a supervisor who would be put forward by the communities GENCOs.
