KEY POINTS
- Smart grids in Lagos electricity market will deliver real-time power monitoring.
- Lagos plans local manufacturing to boost electricity infrastructure and job creation.
- The Lagos electricity market will promote transparency and consumer protection.
As part of a new electrical roadmap, the Lagos State Government has announced intentions to implement smart grids. The project intends to provide everyone throughout the state with a reliable and effective electricity source.
Lagos launches smart grids for a better electricity market
The Lagos State Electricity Law, 2024, which Governor Babajide Sanwo-Olu signed in December, serves as the foundation for this roadmap. Lagos is authorized by law to create and oversee its own electricity market. Within the state, this covers electricity production, transmission, distribution, and trade.
In a statement given to The PUNCH on Wednesday, the Ministry of Energy and Mineral Resources disclosed specifics of the plan. Adetola Idowu, the deputy director of public affairs, reaffirmed the state’s resolve to use contemporary technologies to revolutionize the power industry.
According to Biodun Ogunleye, commissioner for energy and mineral resources, the new law was a watershed in the history of Lagos’ power industry. He defined it as the cornerstone of contemporary, technologically advanced energy solutions. The Lagos Electricity Market (LEM) proposals were highlighted by the commissioner.
Local manufacturing and collaboration will boost Lagos electricity market
He clarified that the deployment of smart grids and embedded generation would be supported by the LEM, which would function as a coordinated ecosystem. Additionally, it would ensure fair and transparent operations by safeguarding customers through data-driven oversight. Ogunleye underlined that digital instruments that track power generation and consumption in real time would power the LEM.
The International Energy Agency claims that smart grids balance the supply and demand for power while lowering prices by utilizing digital technologies, sensors, and software. Additionally, these grids uphold grid dependability and stability.
In the future, the ministry is looking into joint ventures with businesses in the private sector to produce electrical infrastructure locally, such as transformers, meters, cables, and switchgear. This strategy seeks to increase employment and lessen reliance on imports.
Lagos’ willingness to work with the federal government and other subnational governments was also reaffirmed by Ogunleye. A fair, well-coordinated energy transformation that benefits all Nigerians is the aim.
Lagos is now Nigeria’s first subnational government with a fully regulated, independent power market thanks to these audacious measures. This will provide development with scalable and sustainable power,” the statement said.
