Lagos State Governor Babajide Sanwo-Olu has signed the Lagos Electricity Bill 2024 into law, marking a significant step toward achieving 24-hour electricity supply across the state by enabling autonomous generation, transmission, and distribution of power under the Electricity Act 2023.
The signing ceremony took place on Tuesday at the Lagos House, Ikeja.
Gboyega Akosile, the governor’s Special Adviser on Media and Publicity, announced via his official X handle that this decision aligns with the Federal Government’s 2023 approval for states to generate and distribute energy.
The Lagos State House of Assembly had held a public hearing on July 9, 2024, to gather input from stakeholders before advancing the bill through various stages to final approval.
The Lagos Electricity Bill 2024 repeals the Lagos State Electric Power Sector Reform Law 2018 and establishes the Lagos Electricity Market (LEM), providing the legal framework for its regulation.
The new law also facilitates the delegation of regulatory powers from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State electricity agency, empowering Lagos State to regulate, generate, transmit, and distribute electricity for its residents.