Senate President Godswill Akpabio has stated that lawmakers are not in the Senate to make money.
Akpabio stated this on the floor of the Senate during debate on the general principles of the Bill for an Act to amend the Electricity Act, 2023.
The bill will address emerging issues in the Nigerian electric power sector, enhance policy and regulatory coordination, strengthen sectoral financing, protect critical electricity infrastructure, foster industrial relations in the sector, clarify transitional arrangements, redefine host community engagements by licensees operating in the Nigerian electricity supply industry; and for related matters, 2025 (SB. 862).
In his remarks, Akpabio noted that without electricity, industrial growth in the country would be impossible. He said everyone is looking forward to a total overhaul of the electricity sector.
“People think we are here in the Senate to make money, not knowing that we are here to sacrifice for future generations,” he added at plenary on Tuesday.
When amended, passed, and signed into law, it would help clarify ongoing transitional provisions for the transfer of intrastate electricity matters from the Nigerian Electricity Regulatory Commission (NERC) to state governments, especially matters affecting the operation of the national grid system and other overlapping issues.
The bill scaled second reading in the Senate, prompting Akpabio to refer it to the Committee on Power for further legislative action. The committee is to report back at plenary in six weeks.
