Lagos State Governor Babajide Sanwo-Olu has signed the Lagos State Electricity Bill 2024 into law, a landmark move aimed at achieving energy independence for the state.
The signing ceremony, held on Tuesday at Lagos House, Alausa, Ikeja, was attended by key officials, including Deputy Governor Dr. Femi Hamzat, Chairman of the Lagos State House Committee on Energy and Mineral Resources Sabur Oluwa, Attorney General Pedro Lawal, Commissioner for Energy Biodun Ogunleye, and Commissioner for Information Gbenga Omotoso.
Governor Sanwo-Olu hailed the law as a “watershed in the production and distribution of electricity” within the state. It seeks to address longstanding energy challenges, fostering economic growth, industrial development, energy equity, and environmental sustainability.
Key Features of the Law
The Lagos Electricity Law 2024 sets the groundwork for establishing an independent electricity market, with a focus on affordable, reliable, and renewable energy solutions. It also aims to expand access to underserved areas while promoting investment, innovation, and competition.
To implement these goals, the law creates regulatory bodies, including:
Lagos State Electricity Regulatory Commission: Oversees licensing and compliance.
Lagos Independent System Operator: Ensures system reliability and efficiency.
Lagos State Electrification Agency: Focuses on expanding electricity access in underserved communities.
The law also establishes electrification and community trust funds to finance projects in underdeveloped areas and mandates power companies to contribute to host community development. A Power Enforcement Unit will combat electricity theft and infrastructure vandalism.
According to Energy Commissioner Biodun Ogunleye, the law’s implementation is expected to begin within six months, pending federal approval.
This progressive legislation positions Lagos State as a leader in tackling Nigeria’s energy challenges, with the potential to transform its power landscape and spur sustainable development.
