The Senate agreed to the bill for an act to amend the Electric Power Sector Reform Act, to address the concerns of host communities and for related matters.
The bill which was sponsored by Rep. Babajimi Benson at the House of Representatives 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 Generating Companies in Nigeria (GENCOs) operating within their community.
According to Benson, these funds will be siphoned to the development of those communities and ameliorating impact of the activities of these GENCOs.
He said “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 on the lives of our people, their host communities.
“I thank my fellow legislators in the Senate and House of Representatives for their commitment to the passage of this bill and urge our listening President to kindly assent to this bill promptly.
