Lagos State Governor Babajide Sanwo-Olu has officially signed the Lagos Electricity Bill into law.
The ceremony which was carried out at 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 commended the state House of Assembly for ensuring the speedy passage of the bill, stressing that the bill will change the socio-economic value of citizens in Lagos State.
He stated that the electricity bill has been in the works for some years, and now that is finally achieved as Lagosians can be sure of a steady power supply.
On his part, the state Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the electricity law signed will 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.
