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Lagos Seeks Investors for 6 GW Power Projects For Energy Independence

April 16, 2025
in Business News
Lagos Seeks Investors for 6 GW Power Projects For Energy Independence
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The Lagos State Government has called for Expressions of Interest (EOIs) from investors to develop gas-fired, grid-scale solar, and captive power projects, aiming to add 6 gigawatts (GW) to the state’s electricity supply.

Additionally, the government plans to retrofit 22,000 streetlights across Lagos to ease pressure on the national grid and improve energy efficiency.

Governor Babajide Sanwo-Olu announced these plans at the opening of a three-day energy summit, “Journey to Energy for All”, held at the Oriental Hotel in Victoria Island.

He emphasised that Lagos must develop independent energy sources to achieve a 24-hour economy and meet its 2030 Energy Vision, which focuses on:

Energy diversification (including gas and solar), Grid modernisation, and Regulatory reforms.

Sanwo-Olu highlighted several measures already taken, including: The Lagos Electricity Law, which established the Lagos Electricity Regulatory Commission to oversee licensing, compliance, and consumer protection.

An Independent System Operator to manage power distribution and ensure grid stability.

The Lagos Gas Master Plan, approved to guide sustainable energy expansion.

The governor stressed that reliable, clean energy would: Boost industrial growth, Support small businesses, and Reduce household energy costs, freeing up income for other economic activities.

The Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, stated that the state has revised its Integrated Resource Plan (IRP) and is advancing the Lagos Gas Master Plan to create an environment where businesses, students, and families can thrive with affordable, sustainable power.

The summit serves as a platform for investors and stakeholders to explore opportunities, address challenges, and accelerate Lagos’ transition to energy security by 2030.

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