Enugu Aims for $30 Billion Economy with New Electricity Law – In a groundbreaking move that could reshape the economic landscape of Enugu State, Governor Dr. Peter Mbah has signed the much-anticipated Enugu State Electricity Bill into law. This isn’t just about illuminating homes; it’s a beacon that’s set to guide Enugu’s economy from its current $4.4 billion to a staggering $30 billion.
Setting the Stage for Progress
At a ceremonial event at the Government House, Enugu, Governor Mbah expressed that the new law was pivotal in making Enugu the go-to place for investment, business, and tourism. He emphasized that without a robust and consistent power supply, the ambitious goal of elevating the state’s economy would remain elusive.
Drawing attention to the recent Constitutional Amendment and the Electricity Act of 2023, which placed electricity on the concurrent list, he highlighted how this change paves the way for states to actively participate in the entire electricity value chain.
Unveiling Enugu’s Power Strategy
The Governor shed light on the strategic vision behind the Electricity Bill. He said, “Enugu State has spared no time in making sure that we create our own electricity market. This law is the cornerstone of this vision.”
With this law, Enugu isn’t just aiming to be a consumer in the electricity market. The state is gearing up to be an active player in generation, transmission, and distribution segments. Moreover, the law empowers the creation of a regulatory commission, ensuring that the state can effectively oversee the activities of these sectors.
The Broader Picture: Powering Enugu’s Future
Dr. Mbah emphasized the integral role of electricity in Enugu’s development blueprint. “You cannot talk about industry or private sector investment if you don’t have electricity or power,” he pointed out.
The Governor’s vision for Enugu is clear: to make it the foremost destination for investment. This law is a significant step in that direction. He expressed his gratitude to the Enugu State House of Assembly for their swift action on this bill, making it a law that can now catalyze growth.
The signing ceremony was graced by notable personalities including the Deputy Speaker of the Enugu State House of Assembly, Hon. Ezenta Ezeani, representing the Speaker, Hon. Uchenna Ugwu; the Attorney-General and Commissioner for Justice, Dr. Kingsley Udeh; and the Secretary to the State Government, Prof. Chidiebere Onyia.
Enugu is making power moves, quite literally. With the signing of the Electricity Bill into law, the state is not only ensuring a brighter future for its residents but also sending a strong message to potential investors: Enugu is open for business, and it’s powered up for progress.