Lagos State Governor, Mr Akinwunmi Ambode on Thursday signed an important bill into law which will serve to guarantee 24-hour power supply in line with the vision to attain a 24-hour economy and make the state globally competitive, Vanguard reports.
The Law is called the Lagos State Electric Power Reform Law. Giving details on the benefits of the Power Sector Reform Law, the State’s Commissioner for Energy and Mineral Resources, Mr Olawale Oluwo said the law would allow the State Government to intervene in major areas of the power value chain to the overall benefit of the people.
He said the law puts the government in a position to be able to extend a guarantee to private sector participants who want to come and generate power and would also help the distribution companies to upgrade their infrastructure. Finally, it would also serve to empower the government to be able to open up the gas market in Lagos.
Speaking further, Oluwo said the law would also enable the State Government to collaborate with the distribution companies to collect tariff from customers efficiently in a way that the said guarantee would not crystallize, while in the area of enforcement, the law will prevent power theft.
Source: Energy Mix Report