Lagos energy summit opens as state unveils 7-point agenda to drive sector growth

Report By Anthony Ebigie

Commissioner for Energy and Mineral Resources, in Lagos state, Mr. Biodun Ogunleye, has declared that the question before Lagos is no longer whether the state needs a reliable electricity market, but how quickly it can build one.

Speaking at the opening of the 2nd Lagos Energy Summit 2026 on Tuesday, November 10, 2026, at the Landmark Event Centre, Victoria Island, Ogunleye welcomed ministers, lawmakers, regulators, investors, and industry leaders to the two-day summit themed, “Lagos Energy Evolution — Transforming the Future.”

“We have not gathered here merely to discuss electricity. We have gathered to discuss the future of our economy, the competitiveness of our industries, the resilience of our infrastructure and the quality of life of millions of people,” Ogunleye said.

The commissioner laid bare the scale of the challenge facing Nigeria’s commercial capital.

According to him, Lagos, has an estimated electricity requirement of 12,000 megawatts, but conventional grid supply he noted remains below 1,000 megawatts, declaring that the consequence is enormous dependence on self-generation and a heavy financial burden on households and businesses.

“Energy is not simply another sector of the economy; it is the infrastructure upon which every other sector depends.”

To navigate this challenge, the Commissioner said Lagos responded decisively to the Electricity Act of 2023, which gave states greater responsibility for electricity development through the enactment of Lagos State Electricity Law , establishing the foundation for a competitive, transparent, and independently regulated electricity market.

“Since then, Lagos has moved from legislation to institutional development” Ogunleye stressed.

The commissioner in his remarks however warned that laws alone are not enough.

“The true measure of these reforms will not be the number of laws enacted or institutions established, but the reliability, accessibility and affordability of electricity delivered to our people.”

On collaboration with the federal government, Ogunleye specially acknowledged the efforts of President Bola Tinubu for his commitment to addressing structural challenges in the power sector through regulatory reforms, transmission expansion, and improved market liquidity.

He commended the Minister of Power, Joseph Tegbe, for his practical efforts and collaboration with subnational governments.

He highlighted the Presidential 24/7 Energy Zones initiative, which identifies the Lagos corridor as a pilot, as well as ongoing federal investments in critical transmission infrastructure, including interventions in Apapa and ijora.

He also disclosed that the recent engagement between Governor Sanwo-Olu and the Minister, and the establishment of a joint technical committee, shows the importance of coordinated action between the government at the centre and sub-national government.

“For Lagos, the Federal Government is not merely a stakeholder in this journey; it is an indispensable partner.” He further declared.

Ogunleye said the state’s resolve was reinforced at the Lagos State High-Level Strategic Power Town Hall held on August 20, 2026, themed “Ending the Culture of Blackouts and Building a Sustainable 24/7 Power Economy in Lagos State.”

Arising from that town hall, according to him, the state developed its Seven-Point Energy Agenda, an integrated framework covering:
Federal-State cooperation, market sustainability, electricity wheeling and self-generation,additional generation capacity, Last-mile distribution, effective regulation
and the deployment of modern technologies across the electricity value chain

He said the agenda provides a clear roadmap for unlocking additional supply, strengthening infrastructure, attracting investment, and building a commercially sustainable Lagos Electricity Market.

“Our ambition is not simply to generate more electricity, but to establish a functional power economy that supports industrial growth, creates employment, attracts capital, and delivers tangible improvements in the lives of our people.”

Ogunleye also urged participants over the next two days to move beyond the familiar diagnosis of challenges and focus on implementation, posing the questions to participants to discuss ways forward on how the state could possibly unlock additional generation and address infrastructure constraints, including how the state could also possibly develop bankable projects, attract sustainable financing and guarantee market liquidity amongst other posers.

“Our expectation is that this Summit will produce more than recommendations. We must leave here with actionable partnerships, defined priorities, clear responsibilities and measurable milestones.”

He told investors, development partners, innovators, and operators that Lagos remains open and committed to creating an enabling environment for sustainable investments.

Closing his address, Ogunleye thanked Governor Sanwo-Olu and Deputy Governor Dr. Kadri Obafemi Hamzat for their leadership, as well as the Lagos State House of Assembly, regulators, and stakeholders.

“Let this Summit mark a defining transition from possibilities to projects, from commitments to implementation, and from the culture of blackouts to a reliable, inclusive and sustainable 24/7 power economy.” He concluded