Electricity Act 2023 points to federalism, says Ben Igbakpa

The lawmaker, who represented Ethiope Federal Constituency of Delta State at the National Assembly, Hon. Ben Igbakpa, says the Electricity Act 2023

assented today by President Bola Tinubu, “points to federalism as states will now have the power to regulate the energy

market in their domain.”

Fresh Angle International, can report that Hon. Igbakpa, made the statement in a series of tweets this afternoon, Friday June 9.

He tweeted: “This legislation will encourage a more robust and resilient energy sector. We exist in a free market and this reflects the reality of competition, investment opportunities, and localized solutions to the power issues in Nigeria. Here's what people need to know about this Act.

“States and Individuals can invest in the value chain of the electricity industry (generation, transmission, and distribution). This will potentially improve energy infrastructure, expand capacity, and enhance the overall reliability of the output power.

“This there promotes Local Content and inclusion in the decision-making within States. This is a more tailored solution to the 2005 Act and previous arrangements.

Hon. Ben Igbakpa

“Opening up the energy market will certainly foster competition and innovation. We will see the significant inclusion of alternative sources of energy because of multiple players and inventions. This will force improved service delivery and technological advancement.

“This Bill nonetheless advanced and ahead of the thoughts, structures, and infrastructures in most federating units. Most States cannot, at least for some time, deal with the complexities and variations in regulatory oversights. Time for Governors to put on their thinking caps.

“The level of development and preparedness in most states pose challenges to the actualization of the quick wins embedded in this bill. States must now pursue sufficient investment and provide enabling frameworks for investors to thrive. We need not create tough barriers and fees.”

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