Lagos State Rules Out Electricity Subsidies for Consumers

The Lagos State government has announced that it will not provide subsidies for electricity consumers, indicating that residents should brace for an increase in electricity tariffs. Biodun Ogunleye, the Commissioner for Energy and Mineral Resources, stated that the state is transitioning to an autonomous electricity market and reiterated that there will be no subsidies unless Governor Babajide Sanwo-Olu changes his mind.

Ogunleye made these remarks during the maiden stakeholders' forum organized by the Lagos State Electricity Regulatory Commission (LASERC). He emphasized the importance of everyone in the electricity value chain paying the real cost of electricity.

Ogunleye also advocated for a different approach to Nigeria's power situation to attract investors. Temitope George, the Chief Executive Officer of LASERC, stressed the commission's commitment to ensuring a 24-hour power supply and 100% metering within the state, while also establishing zonal offices to enhance regulatory services and complaint resolution.