ONE WORD

President Bola Tinubu has justified the removal of fuel subsidy, saying that the country cannot continue feeding smugglers and acting as Father Christmas to neighbouring countries. He said this at an interactive session with the Royal Fathers under the aegis of the National Council of Traditional Rulers of Nigeria (NCTRN) at the Aso Villa on Friday, according to a statement by State House Director of Information, Abiodun Oladunjoye. The President informed them of the decision to remove fuel subsidy, improve security, create jobs, and sustain the environment as well as the forthcoming election of principal officers of the 10th National Assembly. ‘‘I am grateful that you are paying attention to what I have been doing. You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas? ‘‘The elephant that was going to bring Nigeria to its knees is the subsi...

  President Tinubu has assented to the 2023 Electricity Act which is a replacement for the Electricity and Power Sector Reform Act of 2005. The Act will bring about the de-monopolization of Nigeria’s electricity generation, transmission, and distribution of electricity at the National level and empower states, companies, and individuals to generate, transmit and distribute electricity. The Electricity Act was first passed in July 2022 under the Muhammadu Buhari administration. President Bola Ahmed Tinubu has assented to the Electricity Act 2023 which was initially passed by lawmakers in July 2022. The Electricity Act will replace the Electricity and Power Sector Reform Act of 2005. It provides a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) as well as encourage private sector investments in the sector. Highlighted below are some of the functions the Electricity Act seeks to guide- State electricity empowerment The de-monopolizati...