Lagos State Governor Babajide Sanwo-Olu has set a target of increasing electricity supply to more than 3,000 megawatts by March 2027, up from the current level of below 1,000MW, as the state intensifies efforts to end persistent blackouts and support a 24-hour economy.
Sanwo-Olu announced the target on Saturday at the fourth Lagos Business School Africa Energy Conference (AEC 2026), held at the Honeywell Auditorium, Lagos Business School, along the Lekki-Epe Expressway. He was represented at the event by his deputy, Dr Kadri Obafemi Hamzat.
The conference, themed “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilization, and Pathways to a Sustainable Power and Energy Market,” brought together stakeholders to discuss policies, investment and infrastructure needed to strengthen Nigeria’s energy sector.
The governor said Lagos was working to mobilise an additional 2,000MW through a combination of national grid supplies, independent power projects, energy hubs, excess generation, power barges, energy traders and embedded generation.
“Lagos needs more power. Our immediate objective is to mobilize 2,000MW of additional electricity supply through multiple channels, including additional national-grid resources, Lagos independent power projects and energy hubs, excess generation, power barges, energy traders and embedded generation,” he said.
“Our ambition is to move from below 1,000MW today to well above 3,000MW by March 2027, while continuing to build towards the larger requirements of the Lagos economy.”
Sanwo-Olu said achieving the target would require coordinated improvements across the electricity value chain, including power generation, transmission, distribution, gas supply and metering.
He outlined a seven-point action plan to make the Lagos Electricity Market fully functional, increase generation, strengthen distribution capacity, reinforce transmission infrastructure, improve electricity networks and metering, secure gas supplies for power generation, and deploy information technology to enhance market visibility.
According to him, the state is working to strengthen its transmission network, upgrade substations and distribution feeders, and expand metering coverage to reduce estimated billing and improve service delivery.
He added that the government was also pursuing clearer contractual obligations and better coordination among electricity market operators and regulators to create a commercially viable environment capable of attracting private investment.
The governor stressed that reliable gas supplies remained critical to electricity generation, while digital technologies would be essential for improving monitoring, accountability and transparency.
He cited the planned deployment of Supervisory Control and Data Acquisition (SCADA) systems, Advanced Metering Infrastructure (AMI) and the Lagos Electricity Intelligence Platform as part of efforts to improve the management and visibility of the electricity market.
Sanwo-Olu also highlighted the state’s renewable-energy interventions, disclosing that about 42,000 of the approximately 50,000 streetlights earmarked for solarisation had been completed. Solarisation projects in 175 public schools had also been completed, with work ongoing in another 100 schools.
He called on investors, financial institutions, energy operators and development partners to collaborate with the state in implementing the electricity expansion plan.
According to him, reliable power is essential to industrial growth, job creation, business competitiveness and improved living standards. He said the government’s priority was to ensure disciplined implementation and measurable results that would support a sustainable electricity market and strengthen Lagos’ economy.
In his keynote address, Vice President, Deepwater Assets, and Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Ronald Adams, called for sustained implementation of Nigeria’s energy sector reforms to attract investment, accelerate oil and gas development and translate the country’s natural resources into economic growth, jobs and improved energy access.
Adams said Nigeria’s oil and gas resources could drive industrialisation and strengthen energy security if supported by competitive fiscal policies, regulatory certainty, efficient project approvals and disciplined execution.
He noted that Nigeria’s estimated 37 billion barrels of oil and condensate reserves and more than 250 trillion cubic feet of gas reserves offered significant opportunities, but warned that resource abundance alone would not guarantee prosperity.
Reaffirming Shell’s commitment to Nigeria, Adams said natural gas must play a central role in supporting electricity generation, manufacturing and industrial development. He added that the country’s energy future depended on converting its resources into reliable power, productive industries and shared prosperity.
Also speaking, President of the Lagos Business School Energy Club, Sebilat Quadri, said the conference was designed to provide a platform for policymakers, financiers, investors, energy operators, academics and other stakeholders to discuss issues shaping Nigeria’s energy future.
She said the conference theme reflected the need to translate the country’s energy potential into bankable projects, mobilised capital, critical infrastructure and measurable impact.
Earlier, Dean of Lagos Business School, Prof. Olayinka David-West, said reliable, affordable and sustainable energy was central to Nigeria’s economic growth, industrial development, investment and shared prosperity.
She noted that energy supply directly affected business competitiveness, industrial productivity, citizens’ quality of life and the economy’s capacity to generate jobs.David-West urged stakeholders to address persistent challenges in policy, infrastructure, financing and market development through a holistic approach that considers the entire energy ecosystem.
