Member representing Ikorodu Federal Constituency in Lagos State, Rep Babajimi Benson has urged President Bola Tinubu to assent the Electric Power Sector Reform Act.
Babajimi said the bill was a welcome development for host communities as it would go a long way to generate 5 percent of the actual operating expenditure around the Egbin thermal power station for his constituents.
In a statement he signed, Babajimi said these funds would be channelled to the development of host communities to ameliorate the impact of the activities of GENCOs.
According to Babajimi: “The Senate of the National Assembly concurred to the bill I sponsored for an act to amend the Electric Power Sector Reform Act, to address the concerns of host communities and for related matters.
“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.
“These funds will be channelled to the development of those communities and ameliorate the impact of the activities of these GENCOs.
“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 the lives of our people and 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.”
