Babajide Sanwo-Olu, Lagos State Governor, has signed the Lagos State Electricity Law 2024 into effect to tackle the challenges of access to electricity in the state. This groundbreaking legislation aims to transform the state’s power sector, ensuring reliable and sustainable electricity for over 24 million residents effectively promoting economic growth across key industries such as ICT and telecommunications.
It would be recalled that Nigeria’s national electricity grid has collapsed six times in 2024 alone. These disruptions have caused significant financial losses, particularly in energy-dependent sectors like telecommunications and ICT.
The new law allows Lagos to generate, distribute, and regulate its electricity independently, freeing the state from federal constraints and reliance on the national grid. By addressing legal and structural bottlenecks, the legislation lays the foundation for local energy solutions, reducing power outages and operational costs.
Governor Sanwo-Olu described the law as a pivotal step towards economic stability, stating, “This is not just about lights; it’s about transforming lives, fostering innovation, and ensuring that Lagos remains the economic powerhouse of Nigeria.”
The Lagos State Electricity Law 2024 outlines several ambitious objectives designed to revolutionise the energy landscape. It would drive the creation of a Lagos Electricity Market, boost access to affordable and sustainable energy including renewable energy and encourage investments.
Institutions to Drive Implementation
The law establishes critical institutions to oversee the effective management of Lagos’s electricity market. These bodies will regulate power distribution, monitor compliance, and ensure the state achieves its goal of becoming a model for energy independence and sustainability in Nigeria.
Governor Sanwo-Olu emphasised the long-term vision of the initiative, saying, “This law is more than a solution to today’s problems; it is an investment in our collective future. It will drive innovation, attract investments, and uplift millions of lives.”
As Lagos prepares for the implementation of this landmark legislation, it sets a new benchmark for energy reform in Nigeria, paving the way for sustainable development and economic prosperity.
