Governor Babajide Sanwo-Olu aims to attract $10 billion in private investments to elevate Lagos State’s electricity supply, targeting nearly five million homes by 2032. Despite drawing just a quarter of the national grid’s 5,000 megawatts, the state is looking beyond, relying on a diverse range of off-grid power sources.
Sanwo-Olu emphasized that their comprehensive power roadmap has highlighted the state’s energy requirements for the upcoming decade. “Based on our assessments, we project a need for 10,000 to 12,000 megawatts, translating into an investment opportunity of roughly $10 billion,” he expressed confidently, seeing this as an enticing proposition for investors.
Further bolstering the state’s power initiative, partnerships with global entities like the World Bank and USAID are in motion, focusing on off-grid solutions that promote renewable energy.
