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Sanwo-Olu signs Lagos electricity bill
The Lagos State Governor, Babajide Sanwo-Olu, on Tuesday, signed into law the state’s Electricity Bill 2024.
Sanwo-Olu, who signed the bill at the Lagos House, Alausa, Ikeja, said the implementation would start in the next six months.
He added that the bill’s sole aim is to ensure an independent power supply to the people of the state.
The state’s Deputy Governor, Dr. Femi Hamzat, the Attorney-General and Commissioner for Justice, Pedro Lawal, and his Information and Strategy counterpart, Gbenga Omotoso, witnessed the signing of the bill.
The governor said: “The objective of the law includes establishing a Lagos Electricity Market that is technically sound, financially viable and well-regulated, ensuring access to affordable, reliable, and sustainable electricity for all citizens.
“The law will allow the establishment of critical institutions to manage and oversee the electricity market which includes the Lagos State Electricity Regulatory Commission for independent oversight, regulatory compliance, and licensing.
“I will describe the law as a watershed in the production and distribution of electricity in the state. This will enhance the productivity of our dear beloved Lagosians with the establishment of agencies like the Lagos Independent System Operator (ISO) to ensure system reliability and operational efficiency.
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“Also the Lagos State Electrification Agency is saddled with expanding electricity access to underserved communities.”
Similarly, the Chairman of the Committee on Energy and Mineral Resources, Lagos State House of Assembly, Mr. Sabur Oluwa, said the bill sought to provide for the creation and administration of the Lagos electricity market.
On his part, the state’s Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, said the implementation of the law is scheduled to commence within six months after securing the Federal Government’s approval.
The Lagos State Electricity Law 2024 is a comprehensive plan on Governor Sanwo-Olu’s resolve to address longstanding challenges in the energy sector.
The law would lay a robust foundation for economic growth, fostering industrial growth, improved quality of life, energy equity, economic prosperity, and environmental sustainability.
The Electricity Act enables sub-national governments to generate and distribute electricity.
Before the signing of the bill, Lagos had an energy demand of about 12,000 megawatts (MW), which is about 90 percent of the national installed capacity of 13,000 MW.
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