Abia State Governor, Alex Otti has signed into law, the Abia State Electricity bill, thereby empowering the State to regulate its own electricity market.
Speaking while assenting to the executive bill, Otti said that the executive arm of government had the capacity to implement the law, adding that the State would soon set up Abia State Electricity Regulatory Authority (ASERA).
Governor Otti said that the 64 page law would support the power initiatives of the State government, adding that it would strengthen the plans of his administration to extend power to the rest of the 8 LGAs of the State, having sealed the Aba ring-fence with Geometric Power Limited covering 9 LGAs.
“So, this legislation would support that initiative and we are very close to signing an MoU moving forward in that direction.
“It also would protect prospective investors in power generation,” he said.
He commended the Abia State House of Assembly for the speedy but careful passage of the bill and appreciated the development partners for their inputs.
Presenting the bill for signing, the Speaker, Emmanuel Emeruwa described it as a milestone achievement, adding that it is a big business investment for the State
Explaining the electricity law to journalists on Monday, Abia State Commissioner for Information, Okey Kanu said that the State government was planning to sign a Memorandum of Understanding with the Enugu Electriciity Distribution Company (EEDC) to buy 60% of EEDC’s stake.
He said they the initiative would allow Abia to wheel power to other South East States.