News
President Tinubu Assents To Amended Electricity Act Bill
![President Tinubu On Top Of Domestic Situation, Atiku's Statement Reckless --Presidency](https://oasismagazine.com.ng/wp-content/uploads/2024/01/20240131_051613.jpg)
President Bola Tinubu has signed the Electricity Act (Amendment) Bill, 2024, into law.
The bill, which was passed by the House of Representatives on July 27, 2023, and the Senate on November 14, 2023, was sponsored by Honourable Babajimi Benson, who represents Ikorodu Federal Constituency of Lagos State.
The Electricity Act (Amendment) Bill, 2024, addresses the development and environmental concerns of host communities, and sets aside five percent of the actual annual operating expenditures of power generating companies (GENCOs) from the preceding year for the development of their respective host communities.
ALSO READ: Police Detain Officers Involved In Shooting Of Vigilante Leader, Two Others In Delta Community
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.
-
Crime15 hours ago
Police Say Suspects Involved In Hijacking Truck Carrying PMS Are Ex-Officers, Order Investigation, Prosecution
-
News4 hours ago
Rivers Court Bars CJ, Clerk From Accepting Amaewhule’s Impeachment Notice
-
News14 hours ago
Governor Alia Appoints Nashima As Acting GM Of BENSES
-
News16 hours ago
Pro-Fubara Lawmakers To Screen Commissioner Nominee Today
-
News14 hours ago
Alleged Fraud: EFCC Asks Morocco, Tunisia, Algeria To Watch-list Yahaya Bello