Governor Sanwo-Olu Signs Lagos Electricity Bill Into Law (Video) - Politics

 

Jubril A. Gawat @Mr_JAGs FLASH: Governor of Lagos State, Mr @jidesanwoolu officially signs the Lagos Electricity Bill 2024 into Law, today at the Conference Room, Lagos House, Alausa Ikeja. THE MANDATE: The Lagos State Electricity Law 2024 is a comprehensive plan of Governor Babajide Sanwo-Olu’s resolve to address longstanding challenges in the energy sector. The law will lay a robust foundation for economic growth, fostering industrial growth, improved quality of life, energy equity, economic prosperity, and environmental sustainability. OBJECTIVES OF THE LAW - Establish a Lagos Electricity Market that is technically sound, financially viable, and well-regulated - Ensure access to affordable, reliable, and sustainable electricity for all citizens. - Promote diverse energy sources, including renewable energy, and encourage energy efficiency. - Foster investment, competition, and innovation in the electricity sector. - Electrify underserved areas, contributing to the sustainable development of Lagos State. INSTITUTIONS TO BE CREATED The law establishes critical institutions to manage and oversee the electricity market: 1. Lagos State Electricity Regulatory Commission: Independent oversight for regulatory compliance and licensing. 2. Lagos Independent System Operator (ISO): Ensuring system reliability and operational efficiency. 3. Lagos State Electrification Agency: Focused on expanding electricity access to underserved communities. 4. Special Funds: (i). Electrification Funds - Financing electrification projects and sustainable energy solutions in underserved and Unserved Communities. (ii) Host Community Development (Community Trust Fund) - Licensed Power Generating Companies must allocate a percentage of the previous year’s operating expenditure to developing their host communities. 5. Power Enforcement Unit - To address issues of Electricity theft, damage and theft of  infrastructure #LagosElectricityLaw #GreaterLagosRising More Details coming …. 15 Likes 4 Shares

Re: Governor Sanwo-Olu Signs Lagos Electricity Bill Into Law (Video) by naptu2: 2:55pm

naptu2: Previous threads. In March 2023 President Muhammadu Buhari signed a constitutional ammendment bill into law and part of the ammendments was that states could generate, transmit and distribute electricity in places that were covered by the National Grid. Buhari Signs 16 Constitution Amendment Bills Into Law https://www.nairaland.com/7615729/buhari-signs-16-constitution-amendment In June 2023, President Tinubu signed an ammendment to the Electricity Act into law. The new law allows states to issue licenses to companies to generate, transmit and distribute electricity within their states. The law says that the states must first enact a law to regulate electricity generation, transmission and distribution before they can take over the regulatory functions of the NERC. President Tinubu Signs Electricity Act 2023 Into Law https://www.nairaland.com/7720914/president-tinubu-signs-electricity-act The Lagos State Government is now planning it's own electricity law and it is inviting investors to take part in the Lagos electricity market. Lagos Lawmakers, Stakeholders Meet As State Plans Own Electricity Market https://www.nairaland.com/8150172/lagos-lawmakers-stakeholders-meet-state GAC Members Meet Obasa Over Proposed Lagos Electricity Law https://www.nairaland.com/8145598/gac-members-meet-obasa-over Lagos To Build Massive 4,000 Megawatts Plants To End Power Cuts - Reuters https://www.nairaland.com/8261512/lagos-build-massive-4000-megawatts Lagos Invites Investors For Gas Fired IPPs https://www.nairaland.com/8261091/lagos-invites-investors-gas-fired Lagos To Build Massive 4,000 Megawatts Plants To End Power Cuts https://www.nairaland.com/8261512/lagos-build-massive-4000-megawatts Devolution Of Electricity Regulation: Lagos Team Meets TCN https://www.nairaland.com/8271944/devolution-electricity-regulation-lagos-team Here are examples of other states. Ekiti Government Grant License To Investors To Generate & Distribute Electricity https://www.nairaland.com/8261408/ekiti-government-grant-license-investors Gombe Signs MoU With Chinese Firm For 100 Megawatt Solar Energy Plant https://www.nairaland.com/8259302/gombe-signs-mou-chinese-firm Enugu Signs Electricity Bill Into Law, Targets 30 Billion USD Economy https://www.nairaland.com/7844171/enugu-signs-electricity-bill-into Grid Collapses: States Ramp Up Plans For Power Plants https://www.nairaland.com/8262488/grid-collapses-states-ramp-up States Work On Total Electricity Subsidy Removal, New Tariff https://www.nairaland.com/8119959/states-work-total-electricity-subsidy Bauchi Govt, CCECCE Sign Agreement For 30MW Solar Power And Distribution Network https://www.nairaland.com/8277659/bauchi-govt-ccecce-sign-agreement 1 Like 1 Share

Re: Governor Sanwo-Olu Signs Lagos Electricity Bill Into Law