Codes

IPPs

Renewable Energy

PART 1 - PRELIMINARY PROVISIONS

This Part includes two sections, namely Section 1 and Section 2. A summary of its content is as follows:

The Electricity Act, 2023 applies throughout Nigeria and respects state laws regarding electricity generation, distribution and the formation of local electricity markets. Its main goal is to establish a robust legal and institutional framework to support a privatized, competitive electricity market, thereby attracting private investments in the Nigerian Electricity Supply Industry (NESI). The Act's key objectives are:

1. Boost power generation capacity and improve efficiency by investing in modern technologies.

2. Expand power transmission infrastructure to address existing imbalances.

3. Scale up efficient generation, transmission, and distribution capabilities to meet national electricity access targets.

4. Provide provisions for reforms under the 2005 Electric Power Sector Reform Act.

5. Promote a competitive market and stimulate investment for economic growth and job creation.

6. Develop and implement a National Integrated Electricity Policy.

7. Address technological gaps and promote renewable energy solutions.

8. Improve electricity access in underserved areas using conventional and renewable energy solutions.

9. Encourage local development of renewable technologies and increase public awareness.

10. Support third-party infrastructure investments and establish frameworks for cross-border trade and security against theft and offenses.