Lagos Has 9,000 Megawatts Energy Deficiency – Sanwo-Olu

Lagos State Governor Babajide Sanwo-Olu has said that 9,000 megawatts are the amount of energy required to transform the state economy.

He said that if realised, the state, which is the most populous city-state, and the fifth largest economy in Africa, would be self-sufficient in electricity supply that would adequately power its industrial sector, Small and Medium Enterprises (SMEs) and residential buildings.

Sanwo-Olu stated this when he addressed a forum at the Corporate Council on Africa, a side event at the ongoing 74th Session of the United Nations General Assembly (UNGA) in New York, United States (U.S.)

The governor, in a statement, said his government had been reviewing the state’s Public-Private Partnership (PPP) policy, with the objectives to boost investors’ confidence on returns on their investment and to drive more investments in critical areas of the state’s economy.

He said: “Lagos, as the fifth largest economy in Africa, accounts for 60 per cent of Nigeria’s GDP, in which the manufacturing sector accounts for about 30 per cent. Despite this potential, we have energy deficiency of about 9,000 megawatts, which is required to give the economy the needed support for more growth. We are open to investment in independent power generation to address energy deficit, which would help to fully unlock opportunities in the tourism sector, infrastructure and technology business.”

Sanwo-Olu used the occasion to present his administration’s six pillars of development, known as Project T.H.E.M.E.S, before the international audience to maximise investment drive and opportunities in each area of the manifesto.

He spoke about how technology and innovation had been changing the face of land transportation in Lagos, especially with the introduction of flexible services in commercial motorcycle operations and cab business to support the rapid movement of people.

Meanwhile, to increase investment drive in the state, the Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, has restated the commitment of the state government to the 28-day building plan approval target.

He stated that the 2019 Lagos State Physical Planning Permit and Building Control Regulations recently passed by the Lagos State House of Assembly have come into effect to enhance the efficiency of government agencies in the building sector.

Salako, who disclosed this yesterday during a meeting with District Officers of Lagos State Physical Planning Permit Authority (LASPPPA) and Divisional, as well as Zonal Heads of the Lagos State Building Control Agency (LASBCA) in Ikeja, said that the approved 2019 Regulations had effectively repealed the Town & County Planning and Building Plan Regulations LSLN No. 15 of 1986 and the Lagos State Physical Planning and Development Regulations 2005 LSLN No. 7 of 2007.

According to Salako, the Lagos State Physical Planning Permit and Building Control Regulations (2019) harmonised the functions of the Lagos State Physical Planning Permit Authority and the Lagos State Building Control Agency, addressing conflicts in their areas of operation with respect to physical development, particularly on land use monitoring and building construction process.

He said the regulations would strengthen the two agencies to enhance their efficiency, move Lagos forward in terms of physical development and ultimately lead to an improvement in the state’s ease-of-doing-business rating.