Electricity Act, 2023

The Act replaces the Electric Power Sector Reform Act of 2005 with a single law for Nigeria's electricity industry. Its stated primary objective is a framework for a privatised, contract- and rule-based competitive electricity market, and it covers consumer protection standards, tariffs and subsidies, rural electrification, the national power training institute and offences such as theft of electricity. The Senate passed it on 10 May 2023 and the House on 23 May 2023.

3 sections

1. 1.Objectives of the Act

   The primary objective of this Act is to provide a comprehensive legal and institutional framework to guide the operation of a privatised, contract and rule-based competitive electricity market in Nigeria and attract through transformative policy and regulatory measures, private sector investments in the entire power value chain of the Nigerian Electricity Supply Industry (in this Act referred to as "the NESI"), and specifically, the Act seeks to achieve the following objectives —

2. 1(f).Objectives of the Act

   promote the development of a competitive electricity market;

3. 1(m).Objectives of the Act

   provide a framework for improvement of access to electricity in rural, unserved, underserved, peri-urban and urban areas through the use of conventional sources and renewable energy off-grid and mini-grid solutions;

This is a readable rendering for citizens. The authoritative text is the gazetted version — linked below.