‘We Want To Light Up Lagos’ – Says Sanwo-Olu As He Signs Electricity Bill Into Law

Lagos State Governor, Babajide Sanwo-Olu, on Tuesday signed the Lagos State Electricity Bill 2024 into law, setting the stage for a power supply system aimed at providing reliable electricity to residents.

The signing of the bill at Lagos House, Ikeja, was witnessed by the Deputy Governor, Dr. Femi Hamzat; Chairman of the Lagos State House Committee on Energy and Mineral Resources, Sabur Oluwa, Attorney General and Commissioner for Justice, Lawal Pedro (SAN) and Commissioner for Energy and Mineral Resources, Biodun Ogunleye, as well as members of the State Executive Council and Lagos State House of Assembly.

Speaking during the signing ceremony, Sanwo-Olu expressed his administration’s commitment to lighting up Lagos.

He charged all relevant stakeholders to work together for the full implementation of the law.

The governor said, “It is a bill that we believe will change the economic landscape and usher in socio-economic benefits for our citizens in Lagos.

“It is not about us; it is about the whole market and an entire system. So, it is important that the system is fully carried along, and they should see it as a win-win.

“We want, at the end of the day, for Lagosians to be the full beneficiaries of what the bill is about. We all want to see affordable and accessible light all around our state.

“We all have a common objective, which is to develop and improve the energy infrastructure of our State and once we do that, we know it will transform into economic benefits for citizens so that people can have a better security network in terms of making Lagos a true 21st Century economy and not being scared or worried about night or illumination in some parts of the city.

“We want to light up Lagos. We want our citizens to feel the benefit and effects of this legislation.”

Earlier in his remarks, Ogunleye, announced that the implementation of the law would begin within six months.

He said, “Today, Lagos State takes a monumental step toward energy transformation as Governor Babajide Sanwo-Olu signs the Lagos State Electricity Law 2024 into law.

“This legislation marks a pivotal moment in the history of the state, signalling the beginning of a brighter, more empowered future.

“It is a testament to the Governor’s commitment to saying farewell to the culture of blackouts and fulfilling his promise to make electricity accessible, reliable, and affordable for every Lagosian.

“The Lagos State Electricity Law 2024 encapsulates the Governor’s resolve to address longstanding challenges in the energy sector.

“This historic legislation aligns seamlessly with his administration’s overarching agenda to bring sustainable progress and prosperity to Lagos.

“As the Governor’s pen meets the paper today, Lagosians can look forward to a new era where reliable power supply will be the norm, not the exception.

“The law paves the way for a Lagos illuminated by innovation, sustainability, and inclusivity, laying a robust foundation for economic growth, improved quality of life, and energy equity.”

The Lagos State Electricity Law 2024 aims to establish a technically sound, financially viable, and well-regulated electricity market in Lagos State.

“The law is designed to ensure access to affordable, reliable, and sustainable electricity for all residents.

“It also promotes the adoption of diverse energy sources, including renewable energy, and encourages energy efficiency.

“Furthermore, the law seeks to foster investment, competition, and innovation in the electricity sector while extending electricity access to underserved areas to support sustainable development.

To achieve these objectives, the law provides for the creation of several regulatory bodies.

“The Lagos State Electricity Regulatory Commission (LASERC) will oversee compliance and licensing, while the Lagos Independent System Operator (ISO) will maintain system reliability and operational efficiency.

The Lagos State Electrification Agency is tasked with expanding electricity access to underserved communities, and the Power Enforcement Unit will address electricity theft and prevent damage or theft of infrastructure.

The law also establishes two special funding mechanisms. The Electrification Fund is dedicated to financing electrification projects and sustainable energy solutions in underserved and unserved communities.

Meanwhile, the Host Community Development (Community Trust Fund) requires licensed power-generating companies to allocate a percentage of their previous year’s operating expenditure to the development of their host communities.