Govt moves to ensure energy security in Lagos (Lagos)

The Lagos State Government says its agency, the Ibile Oil and Gas Corporation, has signed a Memorandum of Understanding with a major oil company, Petrolex Oil and Gas, to ensure energy security in the state. The Commissioner for Energy and Mineral Resources, Mr Olawale Oluwo, explained that the government, through the Ministry of Energy And Mineral Resources, deliberately commenced a reform process in the energy sector to further guarantee the energy security of Lagos. He said, “The energy reform process, which is divided into three major sectors — the electricity reform, the gas reform and the downstream petroleum reform — is crucial to providing stability in the oil market through which the state’s economy can be advanced.”  Read more