Tinubu Signs Amended Electricity Bill, Will It Fix Nigeria’s Power Woes? Details Emerge
- President Bola Ahmed Tinubu has moved to reform Nigeria's failed power and energy sector
- On Friday, February 9, President Tinubu signed the Electricity Act (Amendment) Bill 2024 into law
- The legislation targets the challenges related to growth and environmental concerns in areas that accommodate power generation plants
Legit.ng journalist Segun Adeyemi has over 9 years of experience covering political events, civil societies, courts, and metro
FCT, Abuja - President Bola Tinubu has officially approved the Electricity Act (Amendment) Bill, 2024, making it law.
Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, conveyed this update in a statement released on Friday, February 9
Source: Facebook
The bill aims to tackle the developmental and environmental issues faced by communities hosting power generation facilities.
It mandates that five per cent of the total annual operating expenses of power generating companies (GENCOs) from the previous year be allocated for developing these host communities.
As reported by Channels TV, the statement reads:
“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.”
Proposed by Honourable Babajimi Benson, the legislator representing the Ikorodu federal constituency of Lagos State, the bill successfully cleared both the House of Representatives on July 27, 2023, and the Senate on November 14, 2023.
FG confirms date for opening of portal for student loan applications
Meanwhile, the much-awaited student loan application portal will open on Wednesday, February 21, for interested applicants.
President Bola Ahmed Tinubu is expected to launch the scheme for Nigerian students in higher institutions.
The executive secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, said the application process will be fully technology-driven.
Student Loan vs School Feeding: Why Tinubu’s N150bn scheme can’t work in Nigeria, experts reveal
In another report, President Bola Ahmed Tinubu has been told to channel the N100 billion for the school feeding scheme into constructing more classrooms and employing more teachers.
The President was also urged to leave such schemes for the state and local governments to handle with just the federal government's supervision.
These were the expert opinions of some individuals in the education and developmental policy sectors.
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Source: Legit.ng
