Lagos Wants Review Of National Power Sector Laws

Lagos State Government Commissioner for Energy, Olalere Odusote,  has called for the review of the power generation and distribution laws to make the sector attractive to investors.
He made the call at the Third Real Estate Market Place Conference and Exhibitions in Lagos.
Speaking on sustainable energy solutions in the real estate, Odusote said energy generated by individuals, corporate organisations, including real estate practitioners, come with huge financial burden in addition to  pollution.
According to him, the country’s real estate sector is still begging for huge investment in power to make the sector more viable and attractive to potential investors.
He explained that this became necessary as most private individuals and businesses in Lagos utilised diesel powered generators rather than electricity from the national grid.
He lamented that the two distribution companies in Lagos State – Eko Disco and Ikeja Electric – established nine years ago, sold about 900 megawatts initially and have only improved from to 1,000 megawatts.
“Nothing has changed in the national grid sector nine years after. However, Lagos State within a spate of nine years had grown from having about 8,000 megawatts of installed diesel capacity to about 23,000 megawatts.
“The diesel market of the off-grid market has grown by about 300 per cent but the grid market has not grown at all or just about one to two per cent,” he said.
He added that the state injected almost 1,000 transformers into the grid to improve electricity supply to its residents, but without the desired results.
Odusote said a lot of the energy utilised in Lagos came from diesel generators, and that because of the high population of the city, the emission from that energy source had become unsustainable.
He explained that Lagos had been projected to be city with the largest population in the world in 50 years, therefore energy for the housing infrastructure needed for the population must be put into consideration.
He said that was why the state government came up with the Lagos Electricity sector policy, with the aim of providing universal access to electricity for all residents of the state.
He stated that the draft of the Lagos electricity law had been completed and was before the state’s House of Assembly for consideration.
Odusote explained that the bill, when implemented, would take regulation of electricity from the centre and domicile it with the Lagos regulatory agency.

SOURCE:THETIDENEWS

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