Lagos State Governor Babajide Sanwo-Olu has formally signed the Lagos Electricity Bill into law. The signing event took place at the Lagos House in Alausa Ikeja, attended by the state’s deputy governor, Kadri Hamzat, members of the State Assembly, and members of the state executive council.
Governor Sanwo-Olu praised the state House of Assembly for its prompt approval of the bill, stressing that it will enhance the socio-economic conditions of the residents in Lagos State.
He said that the electricity bill had been in development for several years and, with its passage, Lagosians can expect a consistent power supply.
The state Commissioner for Energy and Mineral Resources, Biodun Ogunleye, remarked that the newly signed electricity law will create an additional power grid for Lagos State and eliminate blackouts.
“There will now be consistent electricity supply. The Host Community Development Trust Fund will offer communities the chance to establish power plants,” he said.
Ogunleye pointed out that the government’s action represents a milestone in progress, ensuring a continuous power supply for Lagos State.
The Lagos State Electricity Law 2024 is part of Governor Sanwo-Olu’s commitment to tackle persistent challenges in the energy sector. This law will establish a strong foundation for economic advancement, nurturing industrial growth, enhancing quality of life, promoting energy equity, fostering economic wealth, and ensuring environmental sustainability.
Additionally, the law aims to create a Lagos Electricity Market that is technically robust, financially sustainable, and properly regulated, guaranteeing affordable, reliable, and sustainable electricity access for all citizens.
It also supports the promotion of various energy sources, including renewables, encourages energy efficiency, spurs investment, competition, and innovation in the electricity sector, and aims to electrify underserved regions, contributing to the sustainable progress of Lagos State.
