₦airaland Forum

Lagos State Government has signed a landmark Power Purchase Agreement (PPA) with three electricity generation companies in a strategic move to significantly boost energy supply and strengthen the state’s power infrastructure.

The agreement, signed on Sunday at Lagos House, Marina, was witnessed by Governor Babajide Sanwo-Olu, while the Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, signed on behalf of the state government.

The partner firms—Mainland Power Limited, Akute Independent Power Plant and Fenchurch Power Limited are among the independent power producers operating within the state, with Fenchurch emerging as a new entrant in the partnership.

Speaking after the signing, Sanwo-Olu described the agreement as a people-focused initiative aimed at improving quality of life through reliable power supply. He urged all parties to uphold the terms of the deal with professionalism and commitment.

“This agreement is about the people and how easily we can solve problems. Let’s keep promises from both sides. When people benefit, life becomes easier. This marks the beginning of the reforms we are seeing in the energy sector,” the governor said.

Ogunleye explained that the agreement is designed to ramp up generation capacity and revive dormant assets without placing additional financial strain on the state.

According to him, the three firms currently generate about 60 megawatts (MW), with projections to scale up to between 200MW and 400MW within the next two to three years.

He disclosed that Mainland Power Limited, which operates the Ikeja GRA plant, has an installed capacity of 8.8MW and a contracted capacity of 5.8MW, supplying electricity to areas from Ikeja to Oshodi.

Key beneficiaries include Lagos State University Teaching Hospital and the Lagos State Urban Renewal Agency, among other critical facilities.

The commissioner added that the Akute Independent Power Plant, now under Fenchurch Power Limited has a contracted capacity of 26MW and is being repositioned as a major energy hub.

Once dormant for about five years, the facility is undergoing rehabilitation and upgrade to supply power to surrounding communities, including the Adiyan Water Works.

On the Island corridor, Viathan Engineering, operators of the Island Power Limited/Peninsula Integrated Power Project, currently manage a combined installed capacity of 21MW—6MW in Lekki and 15MW in Marina.

The project is expected to power vital public infrastructure, including Lagos House, the deputy governor’s residence, and major health institutions such as Lagos Island General Hospital.

The participating firms commended the Sanwo-Olu administration for creating an enabling environment for infrastructure development, noting that the initiative sends a strong signal to investors about Lagos’ readiness to deepen its energy market and attract sustainable investments.

LagosOrigin:
Abia state leads, others follows.

But I still don't trust any news that concerns Lagos because tinubu alone decides wether the deal with have headway or not .

Apcshit:
400Mw only? The thunder wey go fire Sanwo Olu still dey do pressup

HacheNoire:
Scam for the coming election

placeofallure:
[quote author=SeizeTheMemes post=139231145]Your funny. Why didn't you show the "operational challenges" part of that picture?

tiswell:
End of tenure looting mode activated.
I no blame an afterall

LagosOrigin:
Abia state leads, others follows.

But I still don't trust any news that concerns Lagos because tinubu alone decides wether the deal with have headway or not .

LagosOrigin:
Abia state leads, others follows.

But I still don't trust any news that concerns Lagos because tinubu alone decides wether the deal with have headway or not .

yommen:
Lagos is his success story l