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Home Business News

Lagos to partner with Electricity distribution firms, investors for sustainable power

Chike Olisah by Chike Olisah
April 20, 2023
in Business News, Energy
Lagos state, Alaba International Market, Third Mainland Bridge , Eko Bridge

Lagos State Governor, Babajide Sanwo-Olu

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Key Highlights

  • Governor Sanwo-Olu noted that both the public and private sectors involved in the provision of electricity to consumers cannot give reasons for lapses in the power sector.
  • Lagos had mapped out a Universal Electricity Supply plan on a short, medium and long-term basis aimed at improving transmission and distribution of power.
  • The Commissioner for Energy, Lere Odusote said there is a plan to create a One-Stop Shop in the Lagos State Ministry of Energy for easy access.

The Lagos State Government has expressed its readiness to partner with would-be investors and distribution companies (DisCos) on sustainable power in the state.

It stated that it will continue to collaborate with investors to improve power generation, transmission and distribution in the State, ensuring that quality power supply is provided for Lagos residents.

This was made known by the Lagos State Governor, Babajide Sanwo-Olu, when he spoke during a courtesy visit by the Board of Eko Electricity Distribution Company (EKEDC) and its investor group, WPG, on Wednesday, April 20, 2023, at Lagos House, Marina

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The team was led by the Chairman, of the Board of EKEDC, Mr. Dere Otubu.

No reasons for lapses in the power sector

Governor Sanwo-Olu noted that both the public and private sectors involved in the provision of electricity to consumers cannot give reasons for lapses.

The governor expressed worry that so much money had been invested in the sector and charged the Distribution Companies (DisCos) to get it right for economic activities to take a positive shape.

The Lagos State Commissioner for Energy, Mr. Lere Odusote, who gave a brief on the State’s plan for the Energy sector, said the administration had mapped out a Universal Electricity Supply plan on the short, medium and long-term basis aimed at improving transmission and distribution of power.

He said there is a plan to create a One-Stop Shop in the Lagos State Ministry of Energy for easy access.

EKEDC seeks partnership with Lagos Government

Speaking at the occasion, the Chairman Board of Eko Distribution Company, Dere Otubu, who commended Governor Sanwo-Olu for his developmental strides in Lagos State, and victory at the last general elections, said his company is seeking partnership with the State Government to improve power generation, transmission and distribution.

  • He said, “We know and appreciate that Your Excellency (Governor Sanwo-Olu) recognises the need to collaborate with NERC and necessary stakeholders to achieve the great goal of improving power supply to the citizens of Lagos State, hence, we urge your good administration to kindly work with all necessary stakeholders within the power sector to develop a very workable policy and legal regime for this to be achieved.’’

Also speaking, the Managing Director of Eko Electricity Distribution Company (EKEDC), Dr. Tinuade Sanda, noted that it was necessary for her organisation to re-establish a relationship with Lagos State Government for a smooth operation forthwith.

Sanda, who emphasised the need for a good working relationship with the Lagos State Government, applauded the roles played by the Babajide Sanwo-Olu administration in ensuring legislation that backs the decentralization of power in Nigeria.

She also commended Governor Sanwo-Olu for gender balance government by being deliberate in his appointment of many females into the State Executive Council, as well as heads of Ministries, Departments and Agencies (MDAs) in Lagos State.

What you should know

  • In a related development, the Lagos State Government had in September 2021, signed a Memoranda of Understanding (MoU) with energy firms, Ikeja Electric and Sahara Power, to increase power supply to residents.
  • The deal which was signed on behalf of the state government by the Lagos State Ministry of Energy and Mineral Resources was to see the power supply increase from 8 hours to 22 hours daily for residents of the state.
  • Odusote, who signed on behalf of the state government said that the aim of the agreement was to increase power supply to an uninterrupted level of at least 22 hours daily, adding that the deal included the distribution of free 20,000 prepaid meters in low-income areas.

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Tags: Babajide Sanwo-OluEko Electricity Distribution Company (EKEDC)Lagos State Government
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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