Power Sector Reform Act, Lawmaker Seeks PBAT’s Assent

By Oduyemi Odumade

The Member representing Ikorodu Federal Constituency in Lagos State, Mr. Babajimi Benson, has appealed to President Bola Ahmed Tinubu to give his assent to the Electric Power Sector Reform Act and other related matters highlighting the benefits it holds for host communities.

Mr. Benson explained that the bill upon President Bola Ahmed Tinubu’s assent, communities, especially those near the Egbin Thermal Power Station, will receive 5% of the actual annual operating expenditure for the preceding financial year from the various Power Generating Companies (GENCOs) Operating within the Communites.

Briefing news men in Abuja, Chairman House Committee on Defence, explained that the funds will be utilized for community development, mitigating the impact of GENCOs activities.

He emphasized that the significance of enabling communities to fully benefit from hosting GENCOs, anticipating positive impact on people’s lives.

He said “The Senate of the National Assembly concurred to the bill I sponsored for an act to amend the Electric Power Sector Reform Act, to address the concerns of host communities and for related matters.

“Once assented to by the President, host communities, particularly those around the Egbin Thermal Power Station in Ikorodu Federal Constituency, will receive 5% of the actual annual operating expenditure from the various Power Generating Companies in Nigeria (GENCOs) operating within their community”.

“These funds will be directed towards the development of those communities and to alleviate the impact of the activities of these GENCOs”.he said

Highlighting the significance of this move, he added, “This is a milestone for us as the communities will be able to glean the full benefits of hosting the GENCOs”.

“It will also serve as a framework for GENCOs to implement targeted developmental projects that will significantly improve the lives of our people and their host communities”.

In expressing his gratitude, he commended his colleagues in the Senate and House of Representatives for their dedication to the passage of the bill and urged the President to expedite the assent to this bill.

Edited By Grace Namiji