Lagos State Governor, Babajide Sanwo-Olu, has signed the Lagos Electricity Bill 2024 into law, setting the stage for a transformative overhaul of the state’s energy sector. The bill, aimed at delivering uninterrupted electricity across Lagos, underscores the state’s commitment to energy independence and infrastructural development.
The landmark signing, disclosed by Gboyega Akosile, the Governor’s Special Adviser on Media and Publicity, was announced on Akosile’s official X (formerly Twitter) account on Tuesday. His post highlighted the significance of this move, noting that it builds on the Federal Government’s 2023 approval, which empowered states to generate and distribute electricity.
According to Akosile, the new law replaces the Lagos State Power Sector Reform Law of 2018 and introduces innovative frameworks to modernize the electricity market. The bill establishes key institutions, including the Lagos State Electricity Regulatory Commission, tasked with overseeing electricity regulation, and the Lagos State Electrification Agency, which will promote off-grid solutions to expand access to power in underserved areas.
A pivotal feature of the legislation is the creation of the Lagos Electrification Fund, designed to finance grid expansion and off-grid projects. It also sets forth an Integrated Electricity Policy emphasizing renewable energy, energy efficiency, and decarbonization, while encouraging private-sector involvement to boost investment and innovation in the power sector.
To ensure efficient management, the law introduces an Independent System Operator to oversee grid operations and a Power Enforcement Unit to combat electricity theft. These measures aim to address long-standing challenges in electricity reliability, positioning Lagos as a leader in Nigeria’s energy transition.
Governor Sanwo-Olu, flanked by Deputy Governor Dr. Obafemi Hamzat and other senior officials, was seen in a video during the bill-signing ceremony. The event marks a significant milestone in Lagos’s journey toward sustainable energy solutions, with far-reaching benefits for households, businesses, and industries.
By laying the groundwork for consistent and reliable power supply, the Lagos Electricity Bill 2024 is expected to attract investments, enhance economic growth, and solidify Lagos’s status as a model state in Nigeria’s energy reform agenda.
