We have news that the Federal Government may sell the 11 power distribution companies through a re-privatization process if the Electricity Act becomes law.
The National Assembly has already initiated a legislative process to enforce reforms that could see investors in the electricity distribution companies lose their stakes if they fail to improve their investment.
The amendment bill, sponsored by Enyinnaya Abaribe seeks to overhaul the 2023 Electricity Act by addressing regulatory gaps.
The bill has passed its second reading and is currently undergoing further legislative action and discussions.