Governor Babajide Sanwo-Olu of Lagos State has officially enacted the Electricity Bill 2024, a significant legislative measure designed to enhance the reliability of power supply across the state.
According to him, One of the primary objectives of this new legislation is to create an electricity market that operates independently from the national grid.
This move is a continuation of last year’s constitutional amendment that shifted electricity management from the exclusive legislative list to the concurrent list, thereby allowing state governments greater involvement in the generation, transmission, and distribution of electricity.
On Tuesday, Gboyega Akosile, the special adviser on media and publicity to Mr. Sanwo-Olu, took to his X handle to announce the signing of the bill. He emphasized that this legislation represents a crucial advancement by the state government towards achieving 24-hour electricity availability throughout Lagos, particularly following the federal government’s approval for states to generate and distribute energy in 2023. He also shared a video clip of the Governor signing the bill.
This development follows President Bola Tinubu’s earlier approval of the electricity bill, which grants states, corporations, and individuals the authority to generate, transmit, and distribute electricity as of June 2023.
The newly enacted bill will replace the Lagos State Power Sector Reform Law of 2018, aligning with the Electricity Act of 2023 that was signed into law by the President.
Overall, the bill aims to tackle electricity-related challenges, promote energy sustainability, and stimulate economic growth within Lagos State by establishing a robust independent electricity market.
