The governor of Lagos State, Babajide Sanwo-Olu, declared intentions to build five energy hubs with the goal of greatly increasing the state’s electrical capacity.
At the Lagos Commodities and Futures Exchange Breakfast Meeting on the Importance of the Energy Bill to the Capital Market, which took place at the Muson Centre in Onikan, Lagos, Sanwo-Olu stressed the necessity of cooperation between stakeholders in order to use the capital market to propel the energy sector’s expansion.
Deputy Governor Dr. Obafemi Hamzat spoke on behalf of Sanwo-Olu, who said his administration is dedicated to making Lagos an African model for energy market reform. He emphasized the initiatives taken by the government to increase investor trust in the electrical market, enhance regulatory control, and encourage private sector participation.
“As Nigeria’s economic nerve center, Lagos recognizes the importance of a reliable, competitive, and investor-friendly electricity market. We are dedicated to creating an environment conducive to investments in power infrastructure and renewable energy solutions,” Sanwo-Olu stated.