Governor Babajide Sanwo-Olu of Lagos State signs the Lagos Electricity Bill 2024 into law, marking a significant step toward achieving uninterrupted power supply across the state.
The signing, announced on Tuesday by Gboyega Akosile, the Governor’s Special Adviser on Media and Publicity, follows the Federal Government’s 2023 approval empowering states to independently generate, distribute, and regulate electricity. This move enables Lagos to take control of its energy sector and address persistent power supply challenges.
Key Highlights of the Lagos Electricity Bill 2024
- Establishment of Regulatory Bodies:
- The Lagos State Electricity Regulatory Commission oversees the electricity market, regulates power generation, and sets tariffs.
- The Lagos State Electrification Agency focuses on off-grid solutions to expand electricity access in underserved areas.
- Lagos Electrification Fund:
- A dedicated fund finances grid expansion and off-grid projects, boosting infrastructure development.
- Integrated Electricity Policy:
- The policy emphasizes renewable energy, energy efficiency, and decarbonization, with private-sector involvement encouraged.
- Operational Oversight:
- An Independent System Operator manages grid operations for reliability.
- A Power Enforcement Unit addresses electricity theft and ensures compliance.
The new law replaces the Lagos State Power Sector Reform Law of 2018 and aligns with the state’s broader energy reform agenda. It aims to improve energy reliability, attract investments, and support Lagos’s economic growth by ensuring a stable and sustainable power supply.
Governor Sanwo-Olu emphasizes that this transformative initiative will enhance living standards, boost business operations, and position Lagos as a leader in Nigeria’s energy transition.
