Sponsor of the bill and Chairman House Committee on Power, Aliyu Magaji Dau, while leading the debate on the bill at plenary, said the amendment became imperative following increasing challenges that affected the efficiency, corporate stability and prospects of the power sector.
The bill has 36 clauses, key among them are Clause 6 which seeks to amend Section 26 of the Principal Act to make the Nigerian electricity supply industry more competitive in the post-privatisation era and Clause 10 which seeks to amend Section 34 to increase the criteria for selecting potential nominees for appointment as commissioners by the president.
In the same vein, Clause 16 seeks to amend Section 57 to increase the penalty from N20,000 to N50,000 against any commissioner, agent or employee of the commission over failure to comply with audit requests of producing any document or record of accounts.
Source: dailytrust