Nairametrics is hosting a webinar on Nigeria’s electricity sector, with a special focus on the recently signed 2023 Electricity Act.
The webinar is scheduled for Saturday, July 22, at 10 am. The webinar’s main topic will be “Embracing Opportunities for a Prosperous Power Sector in Nigeria.”
The webinar will feature power industry stakeholders and experts like Onyinye Anene-Nzelu, the Head of Mini-Grids at Engie Energy Access; Nosa Igbinedion, the Managing Director/Chief Executive Officer of Westpower and Gas Limited; and Biodun Ogunleye, a Management expert who is currently managing the ongoing Victoria Island Power Project, the implementation supervision for the Akute Power project, as well as the implementation reviews of several power projects for the Lagos State Government.
The webinar will also host Ibikun Konu, an Of Counsel at Streamsowers and Kohn’s Energy and Natural Resources Group, and Osefan Anegbe, an Associate with the Energy and Natural Resources, Competition Law, and Legislative Advocacy practice groups of Streamsowers and Köhn.
The event will be anchored by Arise TV’s Rotus Oddiri and Media personality, Joanna Mustapha.
Themes to be discussed
With a focus on the 2023 Electricity Act, the webinar will address core themes such as:
- The implication of the Electricity Act on industry stakeholders across the value chain which include distribution companies, generating companies, the Transmission Company of Nigeria, the environment and other stakeholders.
- Investing in the electricity industry both for private individuals and businesses as well as the requirements and obligations set out by the Act.
- A comprehensive review of the future of the Nigerian electricity industry from the angle of the Act with a special focus on electricity generation, distribution in terms of reliability and pricing in terms of affordability. The renewable energy context of power generation and distribution will also be reviewed.
Backstory
President Bola Ahmed Tinubu signed the 2023 Electricity Act in June 2023, effectively providing a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) as well as encourage private sector investments in the sector.
The Electricity Act encourages market competition, stability, and implementation of strict governance structures and can be considered an all-in-one stop shop for all electricity-related regulations in Nigeria.
A few key things to note about the Electricity Act
- Establishment Acts like the Nigerian Electricity Management Services Agency Act of 2015, and the Hydroelectric Power Producing Areas Development Commission (HYPPADEC) Act of 2010 are now contained in the 2023 Electricity Act.
- The Electricity Act promotes embedded power generation, hybridized generation, co-generation and the generation of electricity from renewable sources such as solar energy, wind, small hydropower, biomass and other forms of renewables.
- The Act will also establish the power consumer assistance fund, which will be used to subsidize underprivileged power consumers as specified by the Minister in consultation with the Nigerian Electricity Regulatory Commission (NERC).
Click here to register for the Nairametrics electricity webinar.
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