The Manufacturers Association of Nigeria is requesting President Bola Ahmed Tinubu to appoint a committed and incorruptible Minister of Power that has broad experience of the operations and politicking within the power sector.

Otunba Francis Meshioye,  President of the Manufacturers, who made the call, lauded President Tinubu for having signed the Electricity Act 2023 Bill into Law, describing it as a game changer.

He said that given the numerous constraints within the sector, the success of the new Act largely rests on its effective implementation, hence , the need for an incorruptible Minister of Power.

” Over the past decades, the Nigerian power sector has encountered much turbulence in its electricity value chain due to poor policy enforcement, over-regulation, instability of gas supply and bottlenecks in its transmission network.

” These problems have culminated into erratic electricity supply, frequent power outages and persistent collapses of national grid.

“For many years, the situation has stunted the growth of the economy. Consequently, access to electricity has remained a hurdle for millions of Nigerians,” he said.

Highlight of the Electricity Act 2023
In replacement of the Electricity and Power Sector Reforms Act 2005, the Electricity Act 2023 is aimed at providing an all-inclusive framework which will serve as a guide to the decentralization of the power sector in order to encourage private investment and build a competitive electricity market.

Major high points from the Electricity Act are as outlined:
*  States, private companies and individuals are now legally permitted to generate, transmit and distribute electricity.
* Power generation licensees are obligated to meet renewable energy generation as prescribed by the NERC.

* NERC will only surrender regulatory responsibilities to states with established electricity market laws.

*Without a license but an undertaking, the Act empowers any private individual or company to generate not more than 1MW in aggregate at a location.
* Subject to the determination of the NERC, private individuals or companies can sign an undertaking to distribute electricity of not more than 100 Kilowatts in aggregate at a location.

* The Act prohibits interstate or transnational electricity distribution.

* Generating companies are mandated to either generate or purchase electricity from renewable sources or procure instruments for generating renewable energy.

* The Act empowers legislative committees to carry out an oversight function over the NESI

* Except for Lagos, Kaduna and Edo with established electricity market laws, electricity in other states will still be regulated by NERC.