Ayodele Olalere
Lagos State government is set to decentralise its power generation mechanisms with a plan to introduce Independent Power Projects (IPPs) in industrial zones and commercial hubs.
With the state receiving just a supply of 3,500MW as against 12,000MW it needs to stabilise its commercial activities leaving a shortage of 8,500MW electricity, there’s a need to fill up.the shortage.
According to the Commissioner for Commerce, Cooperative, Trade and Investment, Folashade Ambrose-Medebem while speaking on Monday during Lagos State Industrial Policy Consultative Assembly and Validation Workshop Ikeja, the Lagos State Industrial Policy (2025-2030) signifies the state government’s readiness to turn the state into a hub of industrial excellence, where businesses can thrive, investments flourish, and job creation can be maximized.
She told stakeholders at the event that energy security remains a top priority for the state with investment in renewable energy such as solar mini-grids, waste-to-energy initiatives, and gas-to-power projects.
“Lagos State has long been the cornerstone of Nigeria’s economic advancement, acting as the gateway to trade, commerce, and industrialization for the nation and beyond. Our state’s dynamism is a reflection of the entrepreneurial spirit of our people, the innovation embedded in our industries, and the strategic foresight of successive administrations in shaping a business-friendly environment.
“However, as the world transitions towards a new era of economic modernization driven by technology, sustainability, and global competitiveness, it is imperative that we recalibrate our industrial policies to align with both domestic imperatives and international best practices,” Medebem said.
She noted Lagos state is a major financial hub and home to the headquarters of Nigeria’s largest banks, insurance companies, investment firms as well as the tech capital of Africa with over 60% of Nigeria’s technology startups having their base in the state.
“With the Lagos Industrial Policy (2025-2030), we aim to deepen industrialization by leveraging public-private partnerships (PPPs), creating dedicated power solutions for industries, and improving logistics infrastructure to reduce production costs.”
She said Legos is expanding its infrastructure such as the Lagos Rail Mass Transit (Blue and Red Lines), 4th Mainland Bridge, Opebi-Mende Link Bridge, and other road rehabilitation projects which has positioned the state as a truly modern, smart, and resilient city.
“With a power demand of 12,000MW and a supply of just 3,500MW, energy security remains a top priority. Lagos is pioneering renewable energy investments, including solar mini-grids, waste-to-energy initiatives, and gas-to-power projects. The state government is actively working to decentralize electricity generation through independent power projects (IPPs) to support industrial zones and commercial hubs,” she said.