Lagos State Governor, Mr Babajide Sanwo-Olu, and former Minister of Power, Professor Barth Nnaji, have called on industry experts and stakeholders in Nigeria’s power sector to fully embrace and maximise the opportunities presented by the unbundling of the energy sector.
Speaking at the maiden edition of the Lagos Energy Summit, themed ‘’Journey to Energy for All,’’ the duo emphasised that unbundling holds the key to delivering sustainable, reliable, and affordable electricity to Nigerians.
Governor Sanwo-Olu highlighted energy’s critical role in economic growth and development, stressing that reforming the sector is essential for industrialisation and improved quality of life.
Professor Nnaji, the 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 tangible benefits for the populace.
The former minister, Nnaji, commended Sanwo-Olu for his earlier steps on electricity sustainability from the Bola Tinubu administration. Stating that eighty million Nigerians lack an electricity supply, he urged governments at all levels to take decisive action to address the gap.
He said, “In the next 20 years, natural gas will be the fuel to power electricity with about 200 and ten trillion cubic feet of gas”.
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, making 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, partner with the private sector while creating a community of interest across the divide to allow new collaborations to be built.
