The Lagos Electricity Bill was signed into law. Babajide Sanwo-Olu, governor of Lagos State, signed the bill into law on Tuesday.
The ceremony was held at Lagos House Alausa Ikeja, was attended by the state deputy governor, Kadri Hamzat, members of the State Assembly, and members of the state executive council.
Governor Sanwo-Olu praised the state House of Assembly for securing the bill’s quick approval, emphasizing that the bill will transform the socioeconomic status of Lagos State residents.
He stated that the electricity bill has been in the works for several years and that Lagosians can now expect a consistent power supply.
On his part, the state Commissioner of Energy 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 pointed out that the government’s action is a sign of advancement and will guarantee Lagos State’s continuous power supply.
Governor Sanwo-Olu’s comprehensive plan to address persistent issues in the energy sector is outlined in the Lagos State Electricity Law 2024.
By promoting industrial expansion, better quality of life, energy justice, economic success, and environmental sustainability, the law will create a strong basis for economic growth.
The law aims, among other things, to create a technically competent, financially feasible, and well-regulated Lagos electrical market and guarantee that all residents have access to reasonably priced, dependable, and sustainable electricity.
Additionally, it supports energy efficiency, encourages investment, competition, and innovation in the power sector, and promotes a variety of energy sources, including renewable energy.
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