Governor Babajide Sanwo-Olu has officially signed the Lagos State Electricity Bill into law, as part of strategic moves to further enhance power generation and supply in the state
The signing ceremony by the governor inside the Lagos House Alausa Ikeja, had in attendance the state deputy governor Kadri Hamzat, members of the State assembly, as well as the state executive council members.
Governor Sanwo-Olu was full of appreciation for the State House of Assembly for ensuring the speedy passage of the bill
He stressed that the bill would change the socio-economic value of residents in Lagos State.
Sanwo-Olu assured Lagosians of a steady power supply, following the signing of the electricity bill into law
Also speaking, the State Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the electricity law signed would provide an additional grid for Lagos State, and also put an end to black out in the state.
"There will now be regular power supply"
"Host community development Trust fund, which will provide opportunities for communities to develop power plant,” he said.
Ogunleye noted that the step taken by the government stands as a beacon of progress, that will ensure uninterrupted power supply in Lagos State.
The Lagos State Electricity Law 2024 is a comprehensive plan of Governor Sanwo-Olu’s resolve to address longstanding challenges in the energy sector.
The law will lay a robust foundation for economic growth, fostering industrial growth, improved quality of life, energy equity, economic prosperity, and environmental sustainability.
Among other things, the law seeks to establish a Lagos Electricity Market that is technically sound, financially viable, and well-regulated, ensure access to affordable, reliable, and sustainable electricity for all citizens.
It also helps to promote diverse energy sources, including renewable energy, and encourage energy efficiency, foster investment, competition, and innovation in the electricity sector and electrify underserved areas, contributing to the sustainable development of Lagos State.
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