Lagos State Government to Review Power Sector Investments

The Lagos State Government is set to review private investment opportunities and private-sector participation in the electricity market in November 2026, as part of the upcoming second Lagos Energy Summit scheduled for November 10 and 11 in Victoria Island, Lagos. This review follows developments under the Lagos State Electricity Law, 2024.

The summit will focus on the law's implications for private-sector participation and investment across the electricity value chain. Biodun Ogunleye, Commissioner for Energy and Mineral Resources, stated that the summit aims to assess progress since the law's enactment and foster strategic partnerships and investments.

One significant project is Fenchurch Power Limited’s 26MW rebuild of the Akute Independent Power Plant, which began site work in September 2026. This project is expected to provide dedicated electricity to several waterworks and increase Lagos's electricity generation capacity significantly over the next two to three years.