Tinubu Signs Law To Tackle Environmental Issues In Power Generating Communities

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News Investigators/ President Bola Tinubu has signed into law a bill which seeks to address the development and environmental concerns of host communities.

The Act 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.

The Electricity Act (Amendment) 2024, sponsored by Honourable Babajimi Benson, representing Ikorodu Federal Constituency of Lagos State, was passed by the House of Representatives on July 27, 2023, and the Senate on November 14, 2023..

The law 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.

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