Nigeria @ 65: Power Stakeholders Commend FG’s Assent to New Electricity Act!

Nigeria @ 65: Power Stakeholders Commend FG’s Assent to New Electricity Act!

Reported by Marian opeyemi Fasesan | Sele Media Africa

As Nigeria celebrates 65 years of independence, key players in the energy and power sector have lauded the Federal Government for assenting to the new Electricity Act 2023, describing it as a transformative step toward achieving energy independence and reliability.

What the Act Means

• Signed into law by President Bola Tinubu in June 2023, the new Act repeals the Electric Power Sector Reform Act of 2005 and decentralizes the power sector, allowing states, private investors, and individuals to generate, transmit, and distribute electricity within their jurisdictions. [1]
• It also empowers states to license mini-grid and off-grid operators, aiming to address Nigeria’s long-standing energy access gaps.

– The Act introduces a national integrated electricity policy and strategic implementation plan, with emphasis on renewables and off-grid solutions.

Reactions from Industry Experts

• The Association of Nigerian Electricity Distributors (ANED) called it a “game-changer” that will break the historical monopoly of the national grid.
• Rural electrification advocates say it will accelerate energy access in underserved communities.
• Power developers highlighted the law’s potential to attract foreign direct investment and reduce Nigeria’s energy deficit, which still leaves over 85 million Nigerians without access to electricity. [2] Looking Ahead

Stakeholders urge prompt implementation at state level, capacity-building for local regulators, and clarity in licensing processes to avoid policy confusion and legal overlaps.

Citations:

1. Premium Times: premiumtimesng.com/news/top-news/608012-tinubu-signs-electricity-bill-into-law.html
2. Energy Mix Report: energymixreport.com/analysts-hail-electricity-act-as-pivotal-to-nigerias-energy-reform

About The Author

Marian Opeyemi Fasesan

editor

Marian Opeyemi Fasesan is a dynamic journalist and editorial leader committed to excellence in news reporting and storytelling. As the Editor-in-Chief of Sele Media Africa, she ensures daily operations run smoothly while upholding the highest editorial standards. With a strong eye for detail and deep understanding of audience engagement, Marian coordinates content across platforms, guiding teams to produce compelling, timely, and credible news. Her leadership reflects the heart of Sele Media Africa’s mission—to inform, inspire, and elevate voices across the continent.

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