Akinwunmi Ambode has signed the Lagos State Electric Power Reform Bill into law in an attempt to ensuring 24-hour power supply in the state!!! Yaaay! 😀
The law would enable investors to generate electricity for the state and afford the state government to upgrade power infrastructure, as well as tapped into the gas market.
The power reform bill was one of the seven bills the governor signed into law on Thursday.
The other laws are Amended Land Use Charge Law, School of Nursing Law, Cooperative College Law, Cancer Research Institute Law, Amended Customary Court Law and the Yoruba Language Preservation and Promotion Law.
He explained his plan to achieve this, sharing via Instagram, “One, the law puts the government in a position to be able to extend our guarantee to private sector participants who will come and generate power for us. By this guarantee, we are putting the balance sheet of our state on the table and assuring investors that as they generate power, they will get paid.
Second, is to help the distribution companies to upgrade their infrastructure because if they generate the power and their infrastructure is still where it is today, clearly they will not have the capacity to carry the incremental power.
The third area of intervention is that it (the law) empowers us to be able to open up the gas market in Lagos so that we can have gas on a consistent basis and that is how we can attain the 24-hour power supply.”
Finally, we won’t shout “Up NEPA” again. Hehehe!