Sanwo-Olu Signs Lagos Electricity Bill into Law

By Adedapo Adesanya

The Governor of Lagos State, Mr Babajide Sanwo-Olu, on Tuesday signed into law the Electricity Bill 2024 aimed at improving power supply in the state.

The new law also aims to establish an electricity market independent of the national grid.

The new law builds on last year’s constitution amendment removing electricity from the exclusive legislative list and placing it on the concurrent list to decentralise electricity matters.

The shift allows the state governments to participate in the generation, transmission and distribution of electricity.

This was disclosed by Mr Gboyega Akosile, Mr Sanwo-Olu’s special adviser on media and publicity, via his official handle on X, formerly Twitter.

“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,” he wrote.

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.

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.

Electricity supply has been a major concern of successive governments, and the act has been touted to help the sector improve in the commercial capital.