Sanwo-Olu Urges Stakeholders to Leverage on Unbundling of Power Sector

Segun James

Lagos State Governor, Mr. Babajide Sanwo-Olu, has called on industry experts and stakeholders in Nigeria’s power sector to leverage on the unbundling of the sector by the federal government.

Speaking at the maiden edition of the Lagos Energy Summit,  themed: ‘’Journey to Energy for All’’, the governor emphasised that unbundling holds the key to delivering sustainable, reliable, and affordable electricity to Nigerians.

Sanwo-Olu highlighted the critical role energy plays in economic growth and development, stressing that reforming the sector is essential for industrialisation and improved quality of life.

Also, a former Minister of Power, Prof. Barth Nnaji, who was guest speaker at the event, echoed the governor’s sentiments, noting that decentralising power generation and distribution allows for increased efficiency, competition, and innovation.

He urged stakeholders to harness emerging technologies and investment opportunities to drive long-term solutions for Nigeria’s energy challenges.

Both leaders reiterated the need for collaborative efforts across government, private sector, and regulatory bodies to ensure that reforms translate into real benefits for the populace.

The former minister commended Sanwo-Olu for his earlier steps on electricity sustainability from the Bola Tinubu administration, stating that 80 million Nigerians lack electricity supply and urged governments at all levels to take decisive actions to address the gap.

“In the next 20 years, natural gas will be the fuel to power electricity with about 210 trillion cubic feet of gas,” he stated.

In his address, the Lagos State Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the summit would lay the foundation for a sustainable future that would make the city conducive for all.

He held that the state government would continue to engage the audience and carry out quality research to shape the future that would make Lagos a more livable place to activate innovations and ideas.

Ogunleye also said the event would be a key e-mobility platform to have a root for the Lagos gas master plan, make the city a choice destination for everyone to live their dreams and partner with the private sector while creating a community of interest across the divide.