Governor Babajide Sanwo-Olu of Lagos State officially enacted the Lagos State Electricity Bill into Law on Tuesday at a ceremony held at the Lagos House in Alausa, Ikeja.
Notable attendees included the state’s Deputy Governor, Kadri Hamzat, members of the State Assembly, and members of the State Executive Council.
Governor Sanwo-Olu expressed appreciation to the state House of Assembly for its efficient handling of the bill’s passage, emphasizing that this legislation will significantly enhance the socio-economic conditions of citizens in Lagos State.
He added that the electricity bill has been under development for several years, and its enactment assures residents of a consistent power supply.
The state Commissioner for Energy and Mineral Resources, Biodun Ogunleye, stated that the newly signed electricity law will establish an additional power grid for Lagos State, effectively addressing issues of electrical outages.
He assured that residents could anticipate regular power supply and noted the establishment of a Host Community Development Trust Fund, which will facilitate community investments in power generation.
Ogunleye characterized this governmental action as a pivotal advancement that will guarantee uninterrupted electricity access in Lagos State.
The Lagos State Electricity Law 2024 represents a comprehensive strategy initiated by Governor Sanwo-Olu to resolve enduring challenges within the energy sector.
This law aims to create a robust framework for economic development, promoting industrial growth, enhancing quality of life, and ensuring energy equity, economic prosperity, and environmental sustainability. Key provisions of the law include the establishment of a technically sound, financially viable, and well-regulated Lagos Electricity Market, ensuring citizens' access to affordable, reliable, and sustainable electricity.
The legislation advocates for the promotion of diverse energy sources, including renewable energy, while encouraging energy efficiency, investment, competition, and innovation within the electricity sector. It also aims to provide electricity to underserved areas, contributing to the sustainable development of Lagos State.
