Lagos State Governor Babajide Sanwo-Olu has signed the Lagos Electricity Bill into law, signaling a major step toward achieving a stable power supply for residents.
The signing ceremony was held at Lagos House, Alausa, Ikeja, and was attended by Deputy Governor Kadri Hamzat, members of the State House of Assembly, and the State Executive Council.
Governor Sanwo-Olu commended the House of Assembly for the quick passage of the bill, emphasizing its potential to transform the socio-economic landscape of Lagos. “This bill has been in the works for some years, and now Lagosians can be sure of a steady power supply,” he said.
Speaking at the event, the Commissioner for Energy and Mineral Resources, Biodun Ogunleye, stated that the new law would provide an additional electricity grid for Lagos State and eliminate power outages.
“There will now be regular power supply. Host community development trust funds, which will provide opportunities for communities to develop power plants,” he said.
Ogunleye described the development as a “beacon of progress” that would ensure uninterrupted power supply across the state.
The Lagos State Electricity Law 2024 represents a comprehensive strategy to address persistent challenges in the energy sector.
The law seeks to establish a Lagos Electricity Market that is technically sound, financially viable, and well-regulated. It aims to provide access to affordable, reliable, and sustainable electricity for all residents while promoting the use of diverse energy sources, including renewable energy.
It also focuses on fostering energy efficiency, attracting investments, encouraging competition and innovation, and ensuring electricity access to underserved areas, contributing to the sustainable development of Lagos State.
