Electricity Act: Partner Government on Renewable Energy, Akpabio Tasks Investors

Sunday Aborisade in Abuja

The President of the Senate, Godswill Akpabio has urged stakeholders in the renewable energy sector to take advantage of the Electricity Act 2023 which had been signed into law by President Bola Tinubu by partnering with the government on its implementation.

The Act grants autonomy to  state Houses of Assembly to legislate on the issue of electricity.

Akpabio made the appeal yesterday at the First Annual Legislative Summit on Renewable Energy Summit in Nigeria organised by the National Institute For Legislative And Democratic Studies and ASOLAR Systems Nigeria Limited.

He said  the Electricity Act 2023 and the constitution alteration Act 2023, provided both the private and the public sector with an unprecedented opportunity to harness the potentials of renewable energy and revolutionize the nation’s electricity sector.

He therefore urged investors and other stakeholders to take advantage of the reforms in the energy sector to key into Tinubu’s commitment to the renewable energy policy.

He said: “We find ourselves at a pivotal moment in history, where the decisions we make today will shape the future of our nation and the world we leave behind for our posterity.

“The recent passage of the Electricity Act 2023 and the constitution alteration Act 2023 have provided us with an unprecedented opportunity to harness the potential of renewable energy and revolutionise the way we power this blessed nation.

“Renewable energy is not just a passing trend or an optional path. It is the future, and it holds the key to sustainable development, economic growth, and a cleaner, healthier planet.

“By fully exploiting the legal and institutional framework, we can increase access to energy for all Nigerian citizens and industries while reducing our reliance on fossil fuels and mitigating the impact of climate change.

“We cannot achieve this vision alone. It requires the collective effort of all stakeholders, from the public and private sectors, to come together and drive the necessary innovations and advancements in the renewable energy sector.

“It is through regular engagement, collaboration, and the exchange of ideas that we can unlock the full potential of renewable energy in Nigeria,” he stressed.

He challenged participants to acquaint themselves with the latest developments and opportunities in the global renewable energy scene and urged them to interrogate and update the domestic legal and institutional framework.

The Director General of NILDS, Prof. Abubakar Sulaiman, expressed the hope that the summit would be an opportunity for all relevant stakeholders to acquaint themselves with the opportunities and challenges in the renewable energy sector.

He said: “It is also expected that it will serve as a platform for the harvest and refining of evidence based concepts and principles for improving the key legal and institutional framework on renewable energy in Nigeria.

“Indeed, the National Assembly has set the path for this movement through the enactment of the Fifth Constitution Alteration which has improved the autonomy of State Houses of Assembly on the issue of Electricity and the enactment of the Electricity Act 2023.

“The Electricity Act 2023 extended this movement through its calls for a prioritisation of renewable energy and empowerment of state and local governments to set up their own legal frameworks and even invest directly in renewable energy.

“In essence, these two laws democratised and decentralised the legal framework for electricity.”