Sanwo-Olu Signs Into Law Electricity Bill For Sustainable Power In Lagos

Lagos State Governor, Babajide Sanwo-Olu, has signed the State Electricity Bill 2024 into law, paving the way for addressing power crisis in the state.

In a post on his X handle on Tuesday, Sanwo-Olu said the new legislation aims to tackle energy crisis and generally promote economic growth, enhancing quality of life, and ensuring energy equity for all residents.

“Today, I officially signed the Lagos Electricity Bill 2024 into law. This new legislation tackles the ongoing challenges in our energy sector, aiming to promote economic growth, enhance quality of life, and ensure energy equity for all Lagosians,” Sanwo-Olu stated.

The governor explained that the state’s Electricity Act 2024 establishes a regulated electricity market and encourages the adoption of diverse energy sources for the provision of affordable, reliable, and sustainable power in the state. He added that the law also fosters investment and innovation while focusing on increasing electricity access in underserved areas.

According to the governor, the law has created key institutions such as the Lagos State Electricity Regulatory Commission and the Lagos Independent System Operator that will oversee the activities of power transmission and distribution across the state.

Sanwo-olu further disclosed that special funds will be released to boost electrification projects and community development in the state.

He assured that while encouraging competition, consumer interests will also be protected.

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“With this law, we take a significant step towards eliminating the electricity blackouts that have affected our state for too long,” Sanwo-Olu stated.

He said the state began the journey to have independent power access in 2021 when the Lagos State Electricity Policy was launched.

He emphasised that the law is comprehensive enough to effectively address electricity challenges in the state.