Governor Babajide Sanwo-Olu has signed the Lagos Electricity Bill 2024 into law, a move aimed at transforming the state’s energy sector and boosting socio-economic development.
The signing ceremony took place at the Lagos House in Alausa, Ikeja, with Deputy Governor Obafemi Hamzat and Speaker of the Lagos State Assembly Mudashiru Obasa in attendance.
Sanwo-Olu commended the state assembly for the swift passage of the bill, describing it as a milestone that will address persistent energy challenges and provide a robust foundation for economic growth.
“This law will change the socio-economic value of citizens in Lagos state. It is designed to resolve long-standing issues in the energy sector and unlock opportunities for sustainable development,” the governor stated.
Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, highlighted the law’s potential to enhance power supply across the state.
“There will now be regular power supply. The Host Community Development Trust Fund will create opportunities for communities to develop power plants,” Ogunleye said.
The new legislation aims to electrify underserved areas, diversify energy sources—including renewables—and ensure sustainable development.
It will also provide Lagos with an additional power grid to reduce reliance on external sources.
To implement the provisions of the law, the state plans to establish key institutions, including the Lagos State Electricity Regulatory Commission, Lagos Independent System Operator (ISO), and the Lagos State Electrification Agency.
