LAGOS: The Lagos State Government has reaffirmed its commitment to building a reliable, affordable and sustainable electricity market, as government officials, regulators, energy industry leaders and investors gathered for the Lagos Energy Summit 2026 to explore practical solutions towards achieving a 24-hour electricity economy.
The two-day summit, held at the Landmark Event Centre, Lagos, under the theme “Lagos Energy Evolution – Transforming the Future,” brought together stakeholders across the electricity value chain to discuss investment opportunities, regulatory reforms, infrastructure development and innovative approaches to meeting the state’s growing energy demands.
Speaking at the opening ceremony, the Commissioner for Energy and Mineral Resources, Mr Biodun Ogunleye, described electricity as a critical driver of economic competitiveness, industrialisation and sustainable development.
He urged participants to move beyond discussions and focus on practical partnerships, clearly defined responsibilities and measurable targets that would translate into improved electricity supply across the state.
Highlighting Lagos’ enormous energy requirements, Ogunleye disclosed that the state needs approximately 12,000 megawatts of electricity, while supply from the national grid remains significantly below demand.
He also drew attention to findings from the Beyond Gensets study, which highlights the significant commercial and investment opportunities available within Lagos’ existing off-grid electricity generation market.
The commissioner further outlined the government’s Seven-Point Energy Agenda, which focuses on federal and state regulatory cooperation, electricity market sustainability, wheeling and off-grid generation frameworks, embedded generation, distribution infrastructure, metering expansion, effective subnational regulation and modern technology deployment.
Representing the Minister of Power, Chief Joseph Olasunkanmi Tegbe, the Special Adviser on Finance, Mr Taiwo Ajetunmobi, highlighted the Federal Government’s priorities in stabilising electricity supply, improving liquidity in the power sector, optimising existing infrastructure and expanding the national grid to accommodate increasing demand.
Similarly, representing the Special Adviser on Power to the President, Engr. Achinaya stressed the importance of stronger collaboration between the Federal Government and state governments in implementing electricity sector reforms and developing sustainable power solutions.
He emphasised the need for coordinated interventions and strategic partnerships to achieve Nigeria’s electricity development objectives.
The Chairman of the Lagos State House of Assembly Committee on Energy and Mineral Resources, Hon. Sabur Akanbi Oluwa, also reaffirmed the legislature’s commitment to supporting policies and initiatives that would improve access to reliable, affordable and sustainable electricity for residents and businesses.
In another presentation, Engr. Alonge Longe, representing the Chief Executive Officer of Seplat Energy, Engr. Effiong Udofia Okon, highlighted the importance of gas-to-power solutions in supporting industrial development, manufacturing and critical infrastructure.
He called for energy solutions that prioritise customers’ needs, long-term costs and operational sustainability.
Technical and plenary sessions at the summit examined several challenges affecting the electricity market, including sustainable metering, reduction of distribution losses, investment financing, accurate billing, consumer confidence and infrastructure development.
A special session on urban mobility also explored opportunities in Compressed Natural Gas (CNG) conversion, electric vehicle adoption, affordable financing and the development of supporting infrastructure.
The summit further clarified that Lagos State was not disconnecting from the national electricity grid but was working to strengthen local electricity networks and explore diversified supply arrangements to improve energy security and system resilience.
The Lagos State Electricity Regulatory Commission (LASERC), established under the Lagos State Electricity Law 2024, was also highlighted as a key institution responsible for developing the state’s electricity market through regulatory oversight, consumer protection and the promotion of a transparent and sustainable operating environment.
Another major highlight was the Lagos Cleaner Energy Schools Innovation Challenge (LCESIC) 2026, which featured students from 15 secondary schools presenting innovative ideas aimed at promoting cleaner energy solutions.
As the summit progresses into its second day, stakeholders are expected to continue discussions on project financing, gas pricing, infrastructure development and practical strategies for expanding reliable electricity supply across Lagos.
The discussions have underscored the importance of institutional collaboration, effective regulation, sustained investment and shared responsibility in achieving a 24-hour electricity economy.
For Lagos State, the energy transformation goes beyond increasing electricity supply. It is also about creating a resilient power market capable of supporting businesses, improving living conditions, empowering communities and driving sustainable economic growth.
Adetola Idowu Mrs
Director, Public Affairs
Ministry of Energy and Mineral Resources
