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2 clusters · 13 sources · 3 days · First seen · Last updated

Lagos energy infrastructure and electricity market reforms

Overview

The Nigerian Federal Government and the Lagos State Government have partnered to launch the ‘24/7 Energy Zones’ pilot program. This initiative aims to provide continuous electricity to the Lagos corridor, a region representing approximately 40 to 50 per cent of Nigeria’s total electricity demand. The program is managed by a Steering Committee and a Joint Technical Working Committee, focusing on grid stabilization, market liquidity, grid expansion, and regulatory harmonization.

Following this partnership, Lagos State is moving to review private investment opportunities and participation in the electricity market under the Lagos State Electricity Law, 2024. To support these infrastructure and energy goals, the state plans to launch a ₦200 billion bond issuance. Additionally, the Ministry of Energy and Mineral Resources will host the second Lagos Energy Summit in November 2026 to discuss renewable energy, decentralized generation, and the implementation of the new electricity law.

Entities

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

Timeline

  1. [BUSINESS] 8 sources
    Lagos State announces ₦200 billion bond and electricity sector review

    Lagos State is set to issue a ₦200 billion bond for infrastructure projects and will review private sector participation in its electricity market following the 2024 electricity law.

  2. [BUSINESS] 9 sources
    Lagos and Nigerian Federal Government partner for 24/7 power supply

    The Nigerian Federal Government and Lagos State have launched a pilot program to deliver 24/7 electricity to the Lagos corridor, establishing joint committees to manage grid stabilization and supply.

Sources

blueprint.ng · brandspurng.com · businessday.ng · dmarketforces.com · gatmash.com · insidebusiness.ng · newswings.com.ng · persecondnews.com · punchng.com · thegeniusmedia.com.ng · thepodiummedia.com · tori.ng · withinnigeria.com