Lagos State Chief Executive Babajide Sanwo-Olu has officially endorsed the Lagos Electricity Bill.
The ceremony, which took place at Lagos House Alausa Ikeja, had in participation the state deputy chief executive Kadri Hamzat, members of the State assembly, likewise the state executive council members.
Lagos State Chief Executive Sanwo-Olu lauded the state House of Assembly for guaranteeing the speedy passage of the bill, focusing on the fact that the bill will transform the socio-economic value of citizens of the Centre of Excellence.
He expressed that the electricity bill has been underway for a few years, and now that is finally achieved as ‘Lagosians’ can be certain of constant power supply.
On his part, the state Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the electricity law endorsed will make room for an additional grid for Lagos State, and furthermore put an end to black out in the state.
“There will now be regular power supply. Host community development Trust fund, which will provide opportunities for communities to develop a power plant,” he said.
Ogunleye noted that the step taken by the Sanwo-Olu administration stands as a beacon of progress, that will guarantee uninterrupted power supply in Lagos State.
The Lagos State Electricity Law 2024 is a comprehensive plan of Governor Sanwo-Olu’s determination to tend to longstanding difficulties in the energy sector.
The law will establish a solid starting point for economic growth, encouraging industrial growth, improved quality of life, energy equity, economic prosperity, and ecological sustainability.
In addition to other things, the law seeks to lay out a Lagos Electricity Market that is technically sound, monetarily practical, and well-regulated, to guarantee access to affordable, dependable, and sustainable electricity for all citizens.
It additionally helps in advancing diverse energy sources, including renewable energy, and enhance energy efficiency, promote investment, competition, and innovation in the electricity sector and electrify underserved areas, adding to the sustainable development of Lagos State.
