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[BUSINESS] · Nigeria · 9 sources

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Lagos and Nigerian Federal Government partner for 24/7 power supply

The Nigerian Federal Government and the Lagos State Government have entered a partnership to implement the ‘24/7 Energy Zones’ pilot program, aimed at providing stable and continuous electricity to the Lagos corridor. Lagos has been selected as the pilot site due to its significant economic importance, accounting for approximately 40 to 50 per cent of Nigeria’s total electricity demand.

To facilitate this initiative, two primary bodies have been established: a Steering Committee, chaired by Governor Babajide Sanwo-Olu and co-chaired by Minister of Power Joseph Tegbe, and a Joint Technical Working Committee. The technical committee includes representatives from the Transmission Company of Nigeria (TCN), the Nigerian Electricity Regulatory Commission (NERC), the Rural Electrification Agency (REA), and various Lagos state energy agencies.

The program focuses on four presidential priority areas: grid stabilization, market liquidity, grid expansion, and governance and regulatory harmonization. Following the Lagos pilot, the initiative is intended to expand to other major industrial corridors, including Abuja-Kaduna-Kano and Enugu-Port Harcourt.

Entities

Babajide Sanwo-Olu · Federal Government of Nigeria · Joseph Tegbe · Lagos State Government · Transmission Company of Nigeria