The Lagos State government has set an ambitious target of generating an additional 8,500 megawatts (MW) of electricity to bridge the gap between its industrial power demand of 12,000MW and the current supply of 3,500MW.
Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose, announced this during the Lagos State Industrial Policy Consultative Assembly in Ikeja, explaining the state’s commitment to energy security.
“Since energy security remains a top priority, the state is pioneering renewable energy investments, including solar mini-grids, waste-to-energy initiatives, and gas-to-power projects,” Ambrose stated.
She also said that Lagos is decentralising electricity generation through Independent Power Projects (IPPs) to support industrial zones and commercial hubs.
The commercial hub of the country, which is home to over 70% of Nigeria’s manufacturing activity, is strengthening its industrial framework through the Lagos Industrial Policy target of (2025–2030).
“We aim to deepen industrialisation by leveraging public-private partnerships, creating dedicated power solutions for industries, and improving logistics infrastructure to reduce production costs,” she said.
The state’s startup ecosystem, valued at over $9 billion, has positioned Lagos as Africa’s leading tech hub. Ambrose noted that the government’s Smart City initiative and broadband expansion efforts are attracting global technology investments.
With infrastructure projects like the Lagos Rail Mass Transit and the Fourth Mainland Bridge in progress, the state is positioning itself as a globally competitive industrial and financial hub.
“Today marks a significant milestone in our collective journey towards transforming Lagos into Africa’s premier industrial hub,” Ambrose affirmed. (Guardian)