The Governor of Lagos State, Babajide Sanwo-Olu, on Tuesday signed into law the Electricity Bill 2024, aimed at improving the power supply in Nigeria’s commercial capital.
The new electricity bill seeks to establish an independent electricity market separate from the national grid and enable Lagos to take greater control of power generation, transmission, and distribution.
This development follows last year’s constitutional amendment that moved electricity from the exclusive legislative list to the concurrent list, allowing states to participate actively in the energy sector.
This was disclosed by Mr. Gboyega Akosile, Sanwo-Olu’s Special Adviser on Media and Publicity, via his official X handle on Tuesday.
“The bill is a major step by the state government to ensure 24-hour electricity supply to every nook and cranny of the state, following the FG’s nod for states to generate and distribute energy in 2023,” Akosile wrote, sharing a video of the governor signing the bill.
Alongside the announcement, he posted a video showing his principal signing the bill.
The development comes after President Bola Tinubu assented to the electricity bill, which empowers states, companies and individuals to generate, transmit, and distribute electricity in June 2023.
Nigeria has been faced with electricity issues across generation, transmission, and distribution channels. It is expected that the legislation will help ease some of the issues in the sector.
The bill will replace the Lagos State Power Sector Reform Law 2018, in furtherance of the Electricity Act 2023 signed into law by the president.
The bill aims to address electricity challenges, improve energy sustainability and foster economic growth in the state.
It aims to enhance the electricity supply in Lagos State by establishing an independent electricity market.
Also, by virtue of the bill, the state electrification fund will be set up to ensure reliable electricity supply to the unserved and underserved areas in the state and attract investment.
This move is designed to reduce the state’s dependency on the national grid, which has long been plagued by power outages and ineptitude.
