Governor of Lagos, Babajide Sanwo-Olu, has signed the Lagos Electricity Bill 2024 into law.
The governor signed the bill on Tuesday at the Lagos House, Ikeja.
The law is a comprehensive plan aimed at addressing challenges in the energy sector and is expected to lay the foundation for economic and industrial growth in Lagos.
On his ‘X’ handle, Sanwo-Olu’s Special Adviser on Media and Publicity, Gboyega Akosile, said, “The bill is a major step by the state government to ensure a 24-hour electricity supply to every corner of the state, following the Federal Government’s approval for states to generate and distribute energy in 2023″.
Speaking at the signing ceremony, Governor Sanwo-Olu described the law as a paradigm shift that would reshape the power landscape in the state, saying that its implementation would make consistent electricity a reality for both businesses and households.
The governor expressed his firm belief that this new law would fuel Lagos’ growth as a 24-hour economy, especially benefiting Small and Medium Enterprises (SMEs).
“We want to create a Lagos where businesses no longer need to rely on costly, alternative power sources. This law will ensure that SMEs can thrive without the burden of sourcing multiple power solutions,” he stated.
Sanwo-Olu who also spoke about the wider vision behind the law, said it would ensure a safe and secure environment where Lagosians could walk the streets at night without fear.
