Lagos Governor, Mr Babajide Sanwo-Olu on Tuesday, officially signed the 2024 Lagos Electricity Bill into law, setting the stage for a revolution in power supply and transforming state into a 24-hour economy.

The signing ceremony, which was held at the State House, Ikeja, was attended by key figures, including the Deputy Governor Dr. Kadir Obafemi Hamzat; Chairman of the Energy Committee, Hon. Sabur Oluwa; Attorney-General and Commissioner for Justice, Lawal Pedro, among others.

The new law marks a dramatic departure from Lagos’ previous reliance on the national grid, and instead shifting towards more sustainable and locally sourced energy solutions.

The state government, with this reform, aims to reduce its dependency on the national grid while guaranteeing reliable, affordable, and uninterrupted electricity for all Lagosians.

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 said that the new law would fundamentally change the socio-economic fabric of Lagos, pointing out that his administration was “set to improve energy infrastructure, transforming our city into a global hub where power outages become a thing of the past.”

Sanwo-Olu 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.

Besides, the governor, 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.

“We are committed to lighting up Lagos, ensuring that all residents can go about their activities with the confidence that they will have access to power around the clock,” he said.

Governor Sanwo-Olu hailed the passage of the law as a triumph of collaboration, expressing appreciation to the lawmakers for their diligent work in crafting a bill that would drive Lagos’ continued development and economic prosperity.

The State Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, in his remark, said that the law decentralises the electricity market, encouraging modern energy solutions and private sector investment.

He highlighted that the legislation would not only bolster infrastructure security but also create opportunities for innovation, with regulatory sandboxes designed to test emerging technologies.

The commissioner emphasized that the 2024 Lagos State Electricity Law was a defining moment in the Sanwo-Olu administration’s commitment to providing reliable, sustainable energy, describing the occasion as the dawn of a brighter Lagos.

Ogunleye further revealed that the law would foster public-private partnerships, promote the use of renewable energy, and encourage critical investments throughout the energy sector’s supply chain.

“This is the dawn of a brighter Lagos. An era where darkness gives way to light and uninterrupted power supply becomes the standard,” he said.

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