The Senate has given its approval to amend the Electric Power Sector Reform Act, a move hailed by Rep. Babajimi Benson, the Member representing Ikorodu Federal Constituency of Lagos State.
The amendment, which addresses the concerns of host communities, aligns with the bill sponsored by Rep. Benson, marking a significant stride in resolving pertinent issues within the power sector.
Speaking with newsmen in Abuja on the development, the lawmaker said, “I thank my fellow legislators in the Senate and the House of Representatives for their commitment to the passage of this bill, and I urge our listening President to kindly assent to this bill promptly.”
When assented to by the President, host communities, particularly the communities around the Egbin Thermal Power Station in Ikorodu Federal Constituency, will get 5% of the actual annual operating expenditure for the preceding financial year from the various power generation companies in Nigeria (GENCOs) operating within their community.
These funds will be channelled towards the development of those communities and ameliorating the impact of the activities of these GENCOs.
According to the elated All Progressives Chieftain, “This is a milestone for us as the communities will be able to glean the full benefits of hosting the GENCOs. It will also guide GENCOs in providing targeted developmental projects that will impact the lives of our people and their host communities”.
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