Lagos State has come up with an electricity policy statement to ensure residents enjoy affordable, cleaner, and uninterrupted power supply.
Governor Babajide Sanwo-Olu, at the policy presentation yesterday, hosted by the Ministry of Energy and Mineral Resources, lamented that lack of accountability and sincerity was affecting infrastructural development in the power sector.
“For us to achieve the goal of uninterrupted power supply, we need to hold ourselves accountable and do the right thing. We must continue to ensure profitable partnerships to push investments, be audacious, accountable, better with risk assessment to attract big offtakers. The Lagos State Electricity Policy would be a significant milestone,” Sanwo-Olu said.
Commissioner for Energy and Mineral Resources Olalere Odusote said the government was committed to improving electricity supply. According to him, the policy statement would define the short, mid and long term objectives towards ensuring clean, affordable and interrupted power supply to residents.
One important role of the policy is that it will help to establish and boost the Lagos Electricity Market (LEM).
Some functions of the policy are: “to enact a comprehensive electricity law by June 30, 2022, to implement the policy principles and establish an empowered Lagos Off-Grid Electrification Agency and a Lagos Electricity Regulatory Commission; to delineate the LEM from the national electricity market by December 31, 2022;
“To commence shadow trading of the commercials and technical framework of the LEM by June 30, 3023; to establish the market with a clear focus on ensuring minimal adverse environmental impact and minimal recourse to Lagos State government subsidies or guarantees.
“In the long term, the government expects that by December 31, 2026, there will be reliable supply of electricity in Lagos Electricity sector deploying the most efficient generation techniques and providing clean, adequate and constant recourse to off-grid generator capacity.”
Odusote however added that some of the objectives and methods for attaining them will be reviewed and updated to take account of key factors such as technological innovation and commercial developments in international and domestic electricity markets.
