Governor Babajide Sanwo-Olu has approved the formation of the Lagos State Electricity Regulatory Commission (LASERC), marking a pivotal step in advancing Lagos State’s energy sector. This follows the recent signing of the Lagos Electricity Bill 2024 into law, which aims to position the state as a leader in Nigeria’s energy transition. Strategic Appointments to Drive LASERC’s Vision The governor’s office, through a press release from the Special Adviser on Media and Publicity, announced the new commission and its leadership team, pending confirmation by the Lagos State House of Assembly. The appointed officials bring diverse expertise to guide LASERC’s mission of ensuring sustainable and innovative energy solutions for Lagos. Key Features of the Lagos Electricity Bill 2024 The Lagos Electricity Bill 2024, signed into law earlier this month, replaces the 2018 Lagos State Power Sector Reform Law and outlines an ambitious energy framework: Advancing Energy Independence and Sustainability The 2024 Bill is expected to pave the way for 24-hour electricity in Lagos by enabling the state to generate, distribute, and regulate its power supply. This aligns with the Federal Government’s 2023 approval allowing states to independently manage electricity generation and distribution. With these reforms, Lagos is set to: What This Means for Lagosians LASERC and the new energy policies are designed to transform Lagos’s electricity landscape, ensuring consistent power supply, promoting innovation, and fostering economic growth. Residents can look forward to sustainable and reliable energy solutions as Lagos strives to become a model for energy independence in Nigeria. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
The Lagos State Electricity Bill, 2024, was officially signed into law by Governor Babajide Sanwo-Olu at the State House, Alausa, Ikeja. Present at the signing were key government officials, including Deputy Governor Dr. Obafemi Hamzat, Commissioner for Energy and Mineral Resources Biodun Ogunleye, Chairman of the House Committee on Energy and Mineral Resources Sabur Oluwa, and Attorney-General/Commissioner for Justice Lawal Pedro (SAN), alongside stakeholders from the public and private sectors. Transforming Lagos Through Reliable Power Supply Governor Sanwo-Olu hailed the new legislation as a groundbreaking framework for advancing energy equity, driving economic growth, and promoting environmental sustainability. He stated that the bill is a vital step toward achieving consistent and reliable electricity for residents and businesses across Lagos. “This law is a paradigm shift that will redefine Lagos’ energy landscape,” the governor remarked. “It marks a significant leap forward in our vision for a Greater Lagos, ensuring a robust and sustainable power infrastructure to support households and enterprises alike.” Empowering SMEs and Driving a 24-Hour Economy The governor underscored how the legislation aligns with Lagos’ aspirations to develop a 24-hour economy. This initiative is particularly designed to empower Small and Medium Enterprises (SMEs), which often face challenges due to inconsistent power supply. “With this law in place, Lagos is set to become an economic powerhouse, fostering growth, creating jobs, and enhancing the quality of life for all residents,” Sanwo-Olu added. A Vision for Safety and Sustainability Beyond economic growth, the governor shared a broader vision of transforming Lagos into a safer city where residents can enjoy improved security and walk freely at night without fear. This legislation also reinforces the state’s commitment to embracing sustainable energy practices, strengthening its leadership role in renewable energy adoption in Nigeria. Join Our WhatsApp Group Hear:
