Sanwo-Olu signs Lagos electricity bill into law
Lagos State Governor, Babajide Sanwo-Olu, signed the Lagos Electricity Bill 2024 into law on Tuesday at the Conference Room, Lagos House, Alausa Ikeja.
Sanwo-Olu’s Special Senior Assistant on New Media, Jubril A. Gawat, announced the development on his X handle, noting that the new law is part of the Governor’s efforts to tackle long-standing challenges in the energy sector.
Gawat explained that the Lagos State Electricity Law 2024 aims to create a robust foundation for economic growth, industrial development, energy equity, and environmental sustainability. The law will establish a well-regulated Lagos Electricity Market, ensuring access to affordable, reliable, and sustainable electricity for all citizens.
The law also promotes diverse energy sources, including renewables, encourages energy efficiency, and fosters investment and competition in the electricity sector. It seeks to electrify underserved areas and contribute to Lagos’ sustainable development.
Additionally, the law will create key institutions such as the Lagos State Electricity Regulatory Commission, Lagos Independent System Operator, Lagos State Electrification Agency, and a Special Funds and Power Enforcement Unit to address issues like electricity theft and infrastructure damage.
Sanwo-Olu emphasized that the extensive work by the state government and the House of Assembly over the past year led to the passage and signing of the bill into law.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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