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Nairametrics
Home Business News

 Lagos on the edge of 24/7 power supply in 2018

Research Team by Research Team
November 20, 2017
in Business News
Akinwumi Ambode

Akinwunmi Ambode, Lagos State Governor

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Lagosians should expect an appreciable improvement in power supply in the state if the comment of the state governor Mr. Akinwumi Ambode is anything to go by.

While addressing members of business community and the informal sector, the Governor said the state government is already adopting strategies to short-circuit power generation, transmission and distribution to ensure a stable 24/7 power supply to residents of the state.

Recent data reveals that the power requirements of Lagos today is estimated at about 10,000-12,000 MW. This is a sharp contrast to the less than 1,000MW available to Lagos State from the national grid. This situation has propelled many people to resort to self-help, compelling them to provide their own electricity, resulting in emergence of all manner of domestic power generating sets. This has resulted in very high cost of electricity which unfortunately accounts for 30 per cent of operating costs of any business.

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Improved power supply, without doubt, remains a major key to tackling the myriads of social challenges such as unemployment, insecurity among others, currently bedevilling the Nigerian society. This, indeed, is the driving force of the state government in its various investments in the power sector. The need to generate more wealth and increase productivity is a major factor in the state government renewed resolve to improve power supply in the state

Lastly, it is important for the people to embrace the culture of power conservation as a way of freeing unused power so that power across the state could considerably stabilize. The habit of turning on unneeded power should be discouraged. Aside switching off unused power, the use of energy saving bulbs at homes and offices represents another way through which power could be conserved.Besides the need to conserve power, there is need for government and other stakeholders across the country to explore other sources of power aside from hydropower.

-Fikayo Owoeye


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Research Team

Research Team

The Research Team at Nairametrics meticulously monitors, gathers, curates, and administers an extensive repository of both macroeconomic and microeconomic data originating from Nigeria and across Africa. Utilizing a variety of presentation formats—including documents, tables, and charts—our analysts disseminate key findings through the Nairametrics platform. Additionally, we regularly release insightful, research-driven articles that offer in-depth analyses of economic trends and indicators.

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