LASG Aims Energy Independence

By Mohammed Adekola

Lagos State has begun a journey to achieve energy independence with the target of 6 gigawatts in power generation over the next three years. This ambitious energy plan was disclosed, Yesterday during Lagos Energy Summit, where the State Government’s representatives are meeting with regulators, investors and stakeholders to fashion out the plan.

The bold move to establish a reliable clean energy source to address power shortfall in the State was a direct result of the Lagos State Electricity Act signed into law last December by Governor Babajide Sanwo-Olu, which gave legal framework for private investment in public energy infrastructure.

Lagos is now pursuing Expressions of Interest (EOIs) for gas-fired, grid-scale solar and captive power generation projects aimed at injecting 6 GW of power into Lagos electricity market. The State Government would also be retrofitting 22,000 streetlights across the State to reduce grid pressure and improve energy efficiency.

Sanwo-Olu observed that Lagos required an independent energy sources to fully transition to a 24-hour economy, noting that the State’s 2030 Energy Vision relied on consistent investment in three areas of priority energy diversification, grid modernisation and regulatory reforms.

Sanwo-Olu added that reliable clean energy would not only catalyze more economic activities, it would boost industrial growth and lift small businesses to prosperity. He said the resources spent by residents to provide energy for their homes and businesses would be re-invested into the economy for more growth, stressing that a stable electricity would enrergise activities in both formal and informal sectors.