Section 88: Establishment and purpose of the Rural Electrification Agency.

(1) There is established an Agency, to be known as the Rural Electrification Agency, which shall be a body corporate capable of suing and being sued in its corporate name and, subject to this Act, of performing all acts that bodies corporate may by law perform.
(2) -
(a) The Agency shall consist of seven members six of whom shall be appointed from the six geo-political zones.
(b) The Minister shall draw up the structure of the Agency; provided that in the composition of the membership due regard shall be given to professional competence, stakeholder's interest and geographical spread.
(3) The headquarters of the Agency shall be at Abuja.
(4) The Minister shall, not later than one year from the date of commencement of this Act, prepare and submit for the approval of the President a sustainable and coordinated Rural Electrification Strategy and Plan for Nigeria.
(5) In preparing the Rural Electrification Strategy and Plan, the Minister shall invite and consider the submissions of the Commission and the Rural Electrification Agency.
(6) The Rural Electrification Agency, on such date each year as may be specified by the Minister, shall submit to the Minister annual audited statement of accounts of the Rural Electrification Fund.
(7) The accounts shall be audited by auditors appointed by the Rural Electrification Agency with the approval of the Auditor-General of the Federation.
(8) The Agency shall not later than three months after the end of the financial year propose and submit to the Minister statement of accounts in respect of that financial year.
(9) The Minister shall, once in a quarter, submit to the President reports, prepared in consultation with the Rural Electrification Agency and the Commission, on the progress and achievement of the Rural Electrification Strategy and Plan, which shall include information relating to :
(a) the expansion of the main grid;
(b) the development of isolated and mini-grid systems; and
(c) renewable energy power generation.
(10) The Minister shall periodically evaluate the impact of the rural electrification programme.
(11) The Rural Electrification Agency shall set up and administer a fund under the name Rural Electrification Fund to be used for the purposes specified in subsection (13) of this section.
(12) The Rural Electrification Fund shall consist of the following capital and assets :
(a) any surplus appropriated pursuant to section 53;
(b) any fines obtained by the Commission pursuant to this Act;
(c) any donations, gifts or loans made by international agencies, State Governments, the Federal Government, local communities, businesses or any other entity ;
(d) the contribution that may be made pursuant to section 90 ; and interest and other benefits accrued to the Rural Electrification Fund;
(e) monies appropriated by the National Assembly; and
(f) such percentage of the annual turnover of the licensee's as may be determined by the Commission.
(13) The purpose of the Rural Electrification Fund shall be to promote, support and provide rural electrification programmes through public and private sector participation in order to :
(a) achieve more equitable regional access to electricity ;
(b) maximise the economic, social and environmental benefits of rural electrification subsidies
(c) promote expansion of the grid and development of off grid electrification; and
(d) stimulate innovative approaches to rural electrification; provided that no part of the Rural Electrification Fund shall be used as subsidies for consumption.