On Thursday, February 8, 2018, the Executive Governor of Lagos State, Akinwunmi Ambode signed the Lagos State Electric Power Sector Reform bill into law (the “Law”). The Law establishes an Embedded Power Scheme (the “Scheme”) in Lagos State (the “State”) by creating an enabling environment for Embedded Power investment in the State. The Scheme aims at delivering an estimated 3,000 MW to homes and industries through accelerated development of various embedded power plants in strategic locations across the State. This note highlights salient provisions of the Law with regards to the Scheme and how the Law seeks to encourage investment in Embedded Power.
The Lagos State Embedded Power Commission:
The Law establishes the Lagos State Embedded Power Commission (the “Commission”), which shall liaise with all participants in the power value chain with regards to the development of power generation and distribution. The Commission is established to be an investment facilitator as it is saddled with the following functions amongst others:
