Home Energy Electricity policy will help Lagos achieve uninterrupted power supply — Sanwo-Olu

Electricity policy will help Lagos achieve uninterrupted power supply — Sanwo-Olu

policy - Lagospost.ng

During yesterday’s policy presentation, Lagos State Governor Babajide Sanwo-Olu expressed concern over the lack of accountability in the power sector, which has hampered infrastructural development. He said Lagos State has put together an electricity policy statement that ensures residents have access to affordable, cleaner, and uninterrupted power.

“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 off-takers. The Lagos State Electricity Policy would be a significant milestone,” Sanwo-Olu said.

Olalere Odusote, the Commissioner for Energy and Mineral Resources, said the government was committed to increasing electricity supply. He believes the policy statement would outline short, medium, and long-term objectives aimed at ensuring that residents have a clean, affordable, interruption-free power supply.

The policy has the important function of helping to establish and strengthen the Lagos Electricity Market (LEM), some of its functions include: “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.”

However, Odusote added that some of the objectives and the methods for achieving them will be reviewed and updated to take into account key factors such as technological innovation and commercial development in international and domestic electricity markets.

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