A bill to set up a Energy development fund has been tabled before the House of Representatives.
The Bill seeks to set up an alternate source of funds to develop Nigeria’s beleaguered energy sector. The bill seeks to ensure that capital intensive projects in the power sector are not delayed and to get a sustainable base for energy research.
If passed into law, it requires all limited liability companies in Nigeria to contribute 2% of their profits to the fund.
The Bill was sponsored by Hnourable Okey Chime