The Lagos State Government has announced the launch of its new electricity sector policy.
The new policy is designed to meet urban planning standards, and satisfy the demand for various social amenities, while improving economic opportunities in the state.
Held at the Eko Hotels, the launch of the state’s electricity policy, brought together leading stakeholders and policymakers from the power and energy sector in the state, towards the actualization of the Governor Babajide Sanwo-Olu led administration’s commitment, to ensure universal and reliable electricity access for all residents across the state.
Unveiling the policy, The Executive Governor of Lagos state, Mr Babajide Sanwo-Olu, commended the Lagos State Commissioner for Energy and Mineral resources, Mr Olalere Odusote and his team for their commitment towards the achievement of the Lagos State’s vision of providing reliable electricity for Lagosians at all levels “Today’s unveil of the Lagos State electricity policy is a welcome development that will significantly improve the viability of investments in the Lagos State Electricity Market. 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 recognize our different roles and commit to acting in good faith, only then will everyone enjoy the full benefit of this policy”
The event featured a panel session attended by policy makers, business leaders, Government representatives and leading investors across the states public and private sectors, with conversations centered around implementing a holistic solution that delivers clean, adequate and reliable electricity supply within the geographical territory of the state.
Speaking during the launch, Honorable Commissioner for Energy and Mineral resources, Lagos State, Mr Olalere Odusote, described the launch of the electricity policy as an important milestone that will accelerate the state government’s vision of making Lagos 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, we are committed to sustaining an enabling environment for an electricity market that support 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”.
The new policy articulates the vision of the Lagos State government on the necessary constitutional, legal, engineering, and commercial foundations for creating a viable sub-national electricity sector that caters fully to the needs of its citizens, while enabling significant socio-economic growth and development both for Lagos State and the country at large.
The Lagos electricity policy also ensures that future electricity solutions are not only available but environmentally friendly with alternative power backup solutions. With its Integrated Resource Plan (IRP) in partnership with the United States Agency for International Development (USAID), the policy is expected to significantly contribute to the reduction of carbon emissions and improve the quality of life of the people of Lagos.
