Lagos state’s government has announced the launch of a new electrical policy.
The policy aims to achieve urban planning standards and meet demand for various social services while also enhancing the state’s economic potential.
The strategy was unveiled on December 8 by Babajide Sanwo-Olu, the state’s governor, at an event hosted at the Eko Hotels.
A panel discussion with policymakers, corporate executives, government representatives, and investors from the public and private sectors of the state was held as part of the event.
The discussions centered on putting in place a comprehensive solution that provides clean, adequate, and dependable electricity across the state’s geographical boundaries.
According to the government, the new policy expresses the state government’s vision for establishing the necessary constitutional, legal, engineering, and commercial foundations for establishing a viable sub-national electricity sector that meets all of its citizens’ needs while enabling significant socio-economic growth and development for both Lagos and the country as a whole.
It also ensures that future electricity solutions are not just available, but also “environmentally friendly with alternative power backup solutions,” according to the strategy.
The strategy is projected to greatly contribute to the reduction of carbon emissions and improve the quality of life of Lagos residents through its Integrated Resource Plan (IRP), which was developed in collaboration with the United States Agency for International Development (USAID).
Sanwo-Olu praised the state commissioner for energy and mineral resources, Olalere Odusote, and his team for their dedication to achieving Lagos’ aim of providing citizens with reliable electricity.
“Today’s unveiling of the Lagos state electricity policy is a welcome development that will significantly improve the viability of investments in the Lagos state electricity market,” he said.
“While the unveiling of this policy is laudable, the implementation is a collective one that would require the collaboration of all stakeholders.
“Therefore, everyone has a role to play. From government to individual residents and even corporate bodies, we all must recognise our different roles and commit to acting in good faith. Only then will everyone enjoy the full benefits of this policy.”
Odusote, for one, welcomed the announcement of the power strategy as a significant step forward in the state government’s objective of transforming Lagos into a 21st-century economy.
“Lagos state is not just Nigeria’s most populous state, it is also the commercial center of the country and a major centre for both domestic and international trade as well as labour mobility,” he said.
“We are committed to sustaining an enabling environment for an electricity market that supports the huge demand that the growth in Lagos generates, and the launch of this policy is a step in the right direction towards the achievement of this goal.”
