3rd December, 2024
By Kazeem Ugbodaga
In a monumental step towards transforming Lagos into a 24-hour economy, Governor Babajide Sanwo-Olu has officially signed the 2024 Lagos Electricity Bill into law, setting the stage for a revolution in power supply across the state.
The signing ceremony, held on Tuesday at the State House in Ikeja, was attended by key figures, including Deputy Governor Dr. Obafemi Hamzat, Hon. Sabur Oluwa, Chairman of the Energy Committee, Attorey-General and Commissioner for Justice Lawal Pedro, alongside other prominent stakeholders from both the public and private sectors.
The new law marks a dramatic departure from Lagos’ previous reliance on the national grid, instead shifting towards more sustainable and locally sourced energy solutions.
With this reform, the state government aims to reduce its dependency on the national grid while guaranteeing reliable, affordable, and uninterrupted electricity for all Lagosians.
During his address at the signing, Sanwo-Olu described the law as a paradigm shift that would reshape the power landscape in Lagos, making consistent electricity a reality for both businesses and households.
“This bill will fundamentally change the socio-economic fabric of Lagos,” he said. “We are set to improve energy infrastructure, transforming our city into a global hub where power outages become a thing of the past.”
Sanwo-Olu expressed his firm belief that this new law would fuel Lagos’ growth as a 24-hour economy, especially benefiting Small and Medium Enterprises (SMEs).
“We want to create a Lagos where businesses no longer need to rely on costly, alternative power sources. This law will ensure that SMEs can thrive without the burden of sourcing multiple power solutions,” he stated.
The Governor also spoke about the wider vision behind the law, aiming to create a safe and secure environment where Lagosians could walk the streets at night without fear.
“We are committed to lighting up Lagos, ensuring that all residents can go about their activities with the confidence that they will have access to power around the clock.”
The law’s passage was hailed as a triumph of collaboration, with Sanwo-Olu thanking the lawmakers for their diligent work in crafting a bill that would drive Lagos’ continued development and economic prosperity.
The Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, also weighed in, explaining that the law decentralises the electricity market, encouraging modern energy solutions and private sector investment.
He highlighted that the legislation would not only bolster infrastructure security but also create opportunities for innovation, with regulatory sandboxes designed to test emerging technologies.
Ogunleye emphasised that the 2024 Lagos State Electricity Law was a defining moment in the Sanwo-Olu administration’s commitment to providing reliable, sustainable energy.
“This is the dawn of a brighter Lagos,” he proclaimed. “An era where darkness gives way to light and uninterrupted power supply becomes the standard.”
He further revealed that the law would foster public-private partnerships, promote the use of renewable energy, and encourage critical investments throughout the energy sector’s supply chain.
