The Lagos State Government is targeting an increase in electricity generation from less than 60MW to between 200MW and 400MW over the next two to three years as private operators expand projects across the state.
The government is expected to review private investment opportunities in the electricity market at the second Lagos Energy Summit, scheduled for November 10 and 11 in Victoria Island.
The summit will assess the implementation of the Lagos State Electricity Law, 2024, with particular focus on private-sector participation, investment and the development of generation, distribution and other infrastructure.
Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the event would also provide an opportunity to assess progress since the enactment of the law and attract further investment.
“The Summit will not only review the progress recorded since the enactment of the Lagos State Electricity Law, but will also catalyse strategic partnerships and investments,” Ogunleye said.
Several private power projects are already at different stages of development across Lagos.
Fenchurch Power Limited is rebuilding the Akute Independent Power Plant under a concession with the state government. The 26MW project is expected to supply power to the Akute Intake, Iju Waterworks and Adiyan Waterworks, with excess electricity supplied to the Ikeja Electric network.
About 10MW from the project is expected to come on stream within four months, while the remaining 16MW is targeted for completion within 12 months.
The state has also entered power supply arrangements with Mainland Power, Fenchurch Power and Viathan Engineering as part of efforts to expand electricity generation.
Meanwhile, Elektron Energy Development obtained an operational licence in September for a 40MW power project in Victoria Island, with commercial operations expected to begin in December.
Sahara Power Enterprises Group also commenced construction of a 12MW independent power plant in Ogba in August. The $12m project is expected to be completed in the first quarter of 2027.
Investment is also growing in decentralised electricity supply, with the Lagos State Electricity Regulatory Commission approving 14 licences and permits in May covering off-grid generation, embedded generation, independent distribution, metering and interconnected mini-grids.
The government said the November summit would bring public and private-sector stakeholders together to assess the electricity market and identify further opportunities for investment and partnerships.
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