Lagos State Governor, Mr Babajide Sanwo-Olu, has assured Lagosians of improved electricity supply once the State House of Assembly passes the Bill on electricity into law.
Sanwo-Olu added that the Bill, once passed and signed into law, would attract new investment companies in both generation and distribution, leading to enhanced power supply in the state.
Governor Sanwo-Olu gave this assurance during a media interactive session as he addressed Lagosians on “What plans does Lagos State Government have for its citizens in these tough times?”
The governor assured that the proposed law, once enacted, would empower investors to grow independently, fostering what he termed the “winning buyers and winning sellers concept,” where more investments in alternative energy sources would flourish.
“It is for that law to be passed by the House of Assembly. Once that law comes out, you would see new investment companies in both generation and distribution. They would also have the capacity to grow independently. So the winning buyers and winning sellers concept would work, and there would be a lot more investments in alternative sources of energy,” Governor Sanwo-Olu said.
Governor Sanwo-Olu, while noting that Lagos remained a strong enabler in independent power supply, mentioned that the state currently operated the Independent Power Project (IPP). He quickly noted the need to localize the law and regulations so that new entrants find the environment friendly.
“We in Lagos State also have the IPP that we are running on our own. We are a strong enabler in independent power supply. So we know all the terrains because the environment was not that new entrants’ friendly, which has now been addressed. We need to localize the law and regulations so that these investments can come in,” he said.
“The solution to electricity in Lagos State, we are fully aware. We are making significant progress on deliverables; many of our street lights are now being converted to solar, reducing the consumption of diesel and other fuels from our feeds,” he added.
