The governor of Lagos State, Babajide Sanwo-Olu, has announced that the state will start producing its own electricity.

Sanwo-Olu unveiled the Lagos Electricity Market, which he claims will produce roughly one gigawatt in 2030, and the governor said the action was in line with the recently passed bills by President Muhammadu Buhari.

In accordance with newly passed legislation giving states authority in crucial domains like power, railroads, and the judiciary, Babajide Sanwo-Olu has revealed plans for the state to generate its own electricity.

According to Sanwo-Olu, the new bills give states like Lagos the freedom to direct their own growth in the electricity sector.

Lagos makes the first move

On Tuesday, March 21, 2023, he said that Bill No 33 was a historic move, granting Lagos and other states the authority to regulate electricity generation, transmission, and distribution.

“The new bills will promote efficiency, leading to better service delivery. We’ve been preparing for this by launching an Electricity Policy, publishing our off-grid strategy, presenting our Integrated Resource Plan, and drafting a law to establish the Lagos Electricity Market.

We’re committed to achieving 1GW of solar energy in Lagos by 2030 and have engaged with the World Bank for suitable funding. With the creation of the Lagos Electricity Market, we’ll fulfil our potential as Africa’s model mega city”

Source:- Legit