Lagos State Governor Babajide Sanwo-Olu has signed the Lagos Electricity Bill into law, a significant step towards improving power supply in the state.
The signing ceremony, held at Lagos House in Alausa, Ikeja, was attended by Deputy Governor Kadri Hamzat, members of the State Assembly, and the executive council.
Governor Sanwo-Olu lauded the Assembly for the swift passage of the bill, highlighting its potential to enhance the socio-economic well-being of Lagos residents.
Sanwo-Olu emphasised that the bill, in development for years, aims to ensure steady electricity for Lagosians.
Commissioner for Energy and Mineral Resources, Biodun Ogunleye, described the law as a transformative measure to end power outages, introduce an additional grid system, and support community power plant development through a Host Community Development Trust Fund.
The Lagos State Electricity Law 2024 outlines plans for a technically sound and financially viable electricity market.
It promotes renewable energy, energy efficiency, and private-sector investment while ensuring reliable and affordable electricity access.
The law is to foster industrial growth and sustainable development across underserved areas of the state.
