Lagos State Governor Babajide Sanwo-Olu has signed the Lagos Electricity Bill 2024 into law, marking a significant step toward revolutionizing the state’s energy sector. The signing, which took place at Lagos House, Alausa, was confirmed by Jubril Gawat, the governor’s aide on new media.
The new law aims to establish a robust Lagos Electricity Market, ensuring access to affordable, reliable, and sustainable power for all residents. It promotes energy diversity, including renewables, encourages efficiency, and fosters competition and innovation. Key institutions like the Lagos State Electricity Regulatory Commission and the Lagos Independent System Operator will oversee market regulation, infrastructure, and enforcement against theft and damage.
Governor Sanwo-Olu commended the extensive collaboration with the State House of Assembly over the past year, emphasizing that the law lays a foundation for industrial growth, improved quality of life, and environmental sustainability in Lagos.
