Ideal Reporters

Zulum Unveils Plan For State-Owned Power Company ...  Zulum Unveils Plan For State-Owned Power Company, Emphasizes Reliable Electricity As Catalyst For Economic Growth The Governor of Borno State, Professor Babagana Umara Zulum, has announced plans to establish a state-owned electricity outfit as part of efforts to ensure reliable and sustainable power supply, describing energy availability as a key driver of economic development. Governor Zulum made this known on Friday during a high-level meeting with the Managing Director of the Rural Electrification Agency (REA), Mr. Abba Abubakar Aliyu, held at the Council Chamber of the Government House, Maiduguri. The governor explained that the initiative was in line with the recent constitutional amendment of the Electricity Act, which places electricity under the concurrent legislative list, thereby empowering states to generate, transmit, and distribute power independently. “I am very much aware of the new Electricity Act sec...

STATE GOVERNORS MOVE TO PHASE OUT ELECTRICITY SUBSIDY, IMPLEMENT NEW TARIFF STRUCTURE Governors in Nigeria are preparing to phase out electricity subsidy, indicate interest in managing their individual power markets in line with their regulations. This plan is contained in a document communicated to the Federal Ministry of Power by the Nigeria Governors' Forum titled 'Development of the National Integrated Electricity Policy and Strategic Implementation Plan Policy Recommendations by State Governments to the Federal Ministry of Power,' the Governors expressed intention to introduce varying electricity tariffs in their domains. Their suggestion followed approval of the Electricity Act 2023. The Electricity Act 2023 is a national regulation that replaces the Electric Power Sector Reform Act, serving as the current legal structure for the Nigeria Electricity Supply Industry. The Act introduced complex electricity market structure consisting of a central wholesale f...