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Sanwo-Olu Signs Lagos Electricity Bill Into Law: Here Is What You Should Know
The Lagos State Governor, Babajide Sanwo-Olu, on Tuesday signed the Lagos Electricity Bill into law at a ceremony held at Lagos House in Alausa, Ikeja. The event was attended by the Deputy Governor, Kadri Hamzat, members of the State House of Assembly, and the state executive council.
Governor Sanwo-Olu commended the state lawmakers for their swift approval of the bill, which he described as a transformative step toward improving the socio-economic well-being of Lagos residents.
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EKO HOT BLOG reports that he highlighted that the bill’s development spanned several years, and its implementation would assure Lagosians of reliable electricity.
State Commissioner for Energy and Mineral Resources, Biodun Ogunleye, hailed the new law as a significant milestone, emphasizing its potential to eliminate power outages and provide a stable power grid for the state. “This law will ensure a consistent power supply while creating opportunities for host communities to develop power plants through the Community Development Trust Fund,” Ogunleye noted.
The Lagos Electricity Law 2024 introduces a comprehensive framework to address long-standing challenges in the state’s energy sector. It seeks to establish a Lagos Electricity Market that is technically and financially sustainable, ensuring access to affordable and reliable power for all citizens.
Key provisions of the law include:
- Promoting renewable energy and diversifying energy sources.
- Enhancing energy efficiency and encouraging private-sector investment.
- Extending electrification to underserved communities.
- Stimulating competition and innovation within the electricity sector.
Governor Sanwo-Olu emphasized that the law aligns with Lagos State’s goal of driving industrial growth, improving living standards, ensuring energy equity, and supporting environmental sustainability.
Lagos Electricity Bill
This groundbreaking legislation promises to transform the energy landscape and foster sustainable development in Lagos State.
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