Lagos eyes improved power as Sanwo-Olu signs electricity bill into law

Lagos State is taking charge of its power destiny as Babajide Sanwo-Olu, the governor of Lagos states has signed the Lagos Electricity Bill 2024 into law, a milestone in the state’s power sector reform.

Nigeria’s commercial capital currently generates an estimated 15,000MW of power through diesel generators but a mix of gas-sourced power with off-grid solutions means that the Lagos electricyt market could potentially double the size of the Lagos economy.

The legislation comes after the Federal Government granted states the authority to generate and distribute electricity, a decision made in 2023, which has now empowered Lagos to take full control of its energy infrastructure.

This move aims to reduce the state’s dependency on the national grid, which has long been plagued by inefficiencies and power outages.

The Lagos Electricity Law 2024 outlines comprehensive measures to enhance power generation, distribution, and regulation within the state. It also establishes a new state electricity authority responsible for overseeing and implementing these reforms.

The legislation allows for the development of decentralized power sources, such as solar, wind, and gas-powered plants, to ensure that even the most remote areas of Lagos can enjoy uninterrupted power supply.

Read also: What to know about new Lagos electricity bill

The law also includes provisions for private sector participation, enabling businesses and investors to partner with the state in expanding its energy capacity. This approach is expected to attract significant investments and foster a competitive power market within Lagos.

Lagos State, with its massive population and thriving economy, has long struggled with frequent power outages, leading to disruptions in daily life and hindering economic activities.

The new law aims to solve these challenges by harnessing local resources and technological innovations to meet the state’s growing energy demand.

With the signing of the Lagos Electricity Law 2024, the state has taken a bold step toward ensuring a more stable, efficient, and equitable electricity supply for all its citizens, with hopes of setting a model for other states in Nigeria to follow.