In a pivotal session, the Senate convened yesterday to discuss the Electricity Act (Amendment) Bill, 2025, a comprehensive legislative initiative aimed at revitalising Nigeria’s faltering electricity sector. This debate comes in the wake of a full-scale investigation into the country’s Ponzi schemes following the catastrophic collapse of the Crypto Bullion Exchange (CBEX), which reportedly defrauded Nigerians of over N1.3 trillion ($847 million).
Senator Enyinnaya Abaribe (Abia South) sponsored the bill, proposing 28 essential amendments to the Electricity Act, 2023, to tackle the pervasive challenges within the Nigerian Electricity Supply Industry (NESI). Abaribe warned that the power sector is on the brink of collapse, hindered by unpaid debts and vandalism.
The proposed amendments include tighter regulations, increased accountability, and a framework for community participation in electricity projects. Senators from across the political spectrum lauded the bill as a timely and transformative step towards ensuring stable electricity supply for all Nigerians.
