Less dan two weeks wey e enter office, President Bola Tinubu on Friday sign di Electricity Act 2023.

Dis law wey Nigerians including sabi pipo don dey tok about go open di opportunity for states and companies to generate, transmit and distribute power supply.

Di Electricity Act go now replace di Electricity and Power Sector Reform Act, of 2005.

Di act go also cancel di monopoly of how Nigeria power sector dey generate and distribute power .

Wetin dis one mean be say di act go encourage private sector investment.

Di Electricity Bill 2023 dey complement di Constitution Amendment Bill wey former President Muhammadu Buhari sign for March 2023 during di 9th National Assembly.

Dis development dey happun for time wen Nigeria dey battle serious challenge of gebge from di power sector.

Wetin e mean?

Wetin e mean be say no more monopoly of Nigeria electricity generation, transmission, and distribution for di National level.

Also, e go give powers to states, companies and individuals wey wan generate, transmit and distribute electricity.

Di Act also allow state to fit give license to private investors to operate mini-grids and power plants within di state.

But di Act no include interstate and transnational electricity distribution.

For di Electricity Act 2023, Nigerian Electricity Regulatory Commission (NERC) go still dey regulate di electricity sector within Nigeria for states wey no get dia own regulators.

Di Electricity Act say NERC powers to regulate within Nigeria no go affect di powers of di states to make laws and create electricity markets within those states and to regulate those markets.

Di Act go also make am compulsory for electricity generating companies to either generate power from renewable energy sources, buy power generated from renewable energy, or buy any instrument wey represent renewable energy generation.