Lagos State Governor, Babajide Sanwo-Olu, has signed the Lagos Electrical energy Invoice 2024 into legislation, a pivotal step in direction of making certain 24-hour electrical energy provide throughout the state.
The Governor assented to the invoice on Tuesday, as disclosed by Gboyega Akosile, Particular Adviser, Media and Publicity to the Lagos State Governor, through his official X (previously Twitter) account.
Akosile’s tweet famous that this signing follows the Federal Authorities’s approval in 2023, which granted states the authority to generate and distribute electrical energy, paving the way in which for Lagos to take management of its energy provide and distribution.
The invoice is anticipated to considerably improve the state’s power infrastructure, offering uninterrupted energy that can profit households, companies, and industries alike.
“Lagos State Governor @jidesanwoolu at present signed the Lagos Electrical energy Invoice 2024. The invoice is a serious step by the State Authorities, to make sure 24 hours electrical energy provide to each nook and cranny of the State, following the FG’s nod for States to generate and distribute power in 2023,” the tweet learn.
Additionally featured in Akosile’s publish was a brief video exhibiting Governor Sanwo-Olu, flanked by his Deputy, Dr. Obafemi Hamzat, and some different high members of his cupboard, as he formally signed the invoice into legislation.
The signing marks a brand new chapter within the state’s power reform agenda, promising to sort out long-standing electrical energy provide points and strengthen Lagos’s financial and infrastructural improvement.
What it’s best to know
The Lagos Electrical energy Invoice 2024 signed into legislation by Governor Babajide Sanwo-Olu, marks a serious step in direction of power independence for Lagos State.
- It replaces the Lagos State Energy Sector Reform Regulation of 2018 and aligns with the Federal Authorities’s 2023 approval permitting states to generate and distribute electrical energy.
- The Invoice establishes the Lagos State Electrical energy Regulatory Fee to supervise the electrical energy market, regulate energy era, and set tariffs. It additionally creates the Lagos State Electrification Company to advertise off-grid options and improve electrical energy entry in underserved areas.
- A key characteristic of the Invoice is the creation of the Lagos Electrification Fund, aimed toward financing the state’s grid enlargement and off-grid initiatives. The Invoice additionally introduces an Built-in Electrical energy Coverage targeted on renewable power, power effectivity, and decarbonization. It outlines a roadmap for a sustainable energy provide, with private-sector involvement inspired.
Moreover, the Invoice establishes an Impartial System Operator to handle grid operations and a Energy Enforcement Unit to sort out electrical energy theft.
With these measures, Lagos goals to enhance energy reliability, entice funding, and turn out to be a pacesetter in Nigeria’s power transition, offering constant and sustainable electrical energy for its residents.
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