Governor Babajide Sanwo-Olu has signed the Lagos State Electricity Law 2024, a groundbreaking initiative aimed at addressing longstanding challenges in the energy sector and ensuring steady power supply across the state.
The signing ceremony, held at Lagos House, Alausa, Ikeja, was attended by Deputy Governor Kadri Hamzat, members of the State House of Assembly, and the State Executive Council.
Governor Sanwo-Olu commended the State House of Assembly for the swift passage of the bill, emphasizing its potential to transform the socio-economic landscape of Lagos. He acknowledged the years of effort leading up to the bill’s fruition and assured Lagosians of improved and reliable electricity supply.
Key Features of the Electricity Law
The Lagos State Electricity Law 2024 is a comprehensive framework designed to:
Establish a Lagos Electricity Market that is technically sound, financially viable, and well-regulated.
Ensure affordable, reliable, and sustainable electricity for all residents.
Promote the use of diverse energy sources, including renewable energy, and encourage energy efficiency.
Foster investment, competition, and innovation in the electricity sector.
Electrify underserved areas to support the sustainable development of the state.
Remarks by the Energy Commissioner
The Commissioner for Energy and Mineral Resources, Biodun Ogunleye, highlighted the law’s provisions for creating an additional grid for Lagos State, which will end the persistent issue of blackouts. He also noted the establishment of a Host Community Development Trust Fund to support the development of power plants and ensure community involvement.
“This is a beacon of progress that will provide regular power supply and enhance the quality of life for Lagosians. It’s a giant step toward uninterrupted electricity in the state,” Ogunleye said.
Driving Economic Growth and Sustainability
Governor Sanwo-Olu emphasized that the law will serve as a robust foundation for economic growth, fostering industrial expansion, energy equity, and environmental sustainability. The initiative is expected to boost the state’s economy, improve living standards, and position Lagos as a model for innovative energy solutions in Nigeria.
The Lagos State Electricity Law 2024 is not just a policy but a commitment to energy reform that prioritizes the prosperity and well-being of every Lagosian.
