Sanwo-Olu signs Lagos Electricity Bill 2024 into law

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Tuesday signed the Lagos Electricity Bill 2024 into law.

The Lagos State Electricity Law 2024 is a comprehensive plan by the state government to address long-standing challenges in the energy sector.

The law, according to the state government, will lay a robust foundation for economic growth, fostering industrial growth, improved quality of life, energy equity, economic prosperity, and environmental sustainability.

With the law, the state government hopes to provide a Lagos Electricity Market that is technically sound, financially viable, and well-regulated, ensuring access to affordable, reliable, and sustainable electricity for all citizens.

Through the law, the Lagos State government will establish the Lagos State Electricity Regulatory Commission, which will provide independent oversight for regulatory compliance and licensing.

READ ALSO:Sanwo-Olu urges stakeholders to explore opportunities in waste management

Also, the Lagos Independent System Operator (ISO) will be set up to ensure system reliability and operational efficiency, while the Lagos State Electrification Agency will focus on expanding electricity access to underserved communities.