morganable politics/Governance
The 2026 Lagos Energy Summit is expected to provide a platform for government officials, regulators, investors, electricity companies and other stakeholders to examine the evolving regulatory framework and its implications for the development of the electricity market.
KaNo —
The Lagos State Government is set to undertake a comprehensive review of private-sector investments and participation in the state’s electricity market as it seeks to assess the implementation of the Lagos State Electricity Law, 2024.
The review is expected to take place during the second Lagos Energy Summit scheduled for November 10 and 11, 2026, in Victoria Island, Lagos.
The summit, organised by the Lagos State Ministry of Energy and Mineral Resources, will focus on developments in the state’s electricity market since the enactment of the 2024 electricity law, with particular attention to private investment, regulation and opportunities across the electricity value chain.
The government disclosed the plan in a statement issued by the Ministry of Energy and Mineral Resources ahead of the summit.
The review comes amid increasing private-sector activity in Lagos’ electricity market, with several independent power projects currently at different stages of licensing, construction and development.
The state government is also seeking to expand electricity generation and distribution through partnerships with private operators, while encouraging investments in renewable energy, decentralised generation and other electricity infrastructure.
The 2026 Lagos Energy Summit is expected to provide a platform for government officials, regulators, investors, electricity companies and other stakeholders to examine the evolving regulatory framework and its implications for the development of the electricity market.
Commissioner for Energy and Mineral Resources, Biodun Ogunleye, said the summit would assess the progress made since the electricity law was enacted and provide opportunities for further investment.
“The Summit will not only review the progress recorded since the enactment of the Lagos State Electricity Law, but will also catalyse strategic partnerships and investments that will deliver measurable outcomes across the generation, transmission and distribution value chain,” Ogunleye said.
The summit was initially scheduled to hold in September but was postponed to November to allow for further preparations.
The review is coming as private companies continue to develop electricity projects targeted at meeting the power needs of residential, industrial and commercial consumers across the state.
One of the projects currently under development is the 26MW rebuild of the Akute Independent Power Plant by Fenchurch Power Limited under a concession agreement with the Lagos State Government.
The project is expected to supply dedicated electricity to the Akute Intake, Iju Waterworks and Adiyan Waterworks, while surplus power will be supplied to the network operated by Ikeja Electric.
Fenchurch commenced work on the site in September, with the existing engines being replaced with new MWM gas engines.
About 10MW of generation capacity is expected to become available within four months, while the remaining 16MW is expected to be completed within 12 months.
The Akute project forms part of broader power supply arrangements entered into by the Lagos State Government with Mainland Power, Fenchurch Power and Viathan Engineering in April.
The arrangements are aimed at increasing electricity generation in Lagos from less than 60MW to between 200MW and 400MW over the next two to three years.
Another project is the 40MW Victoria Island Power project being developed by Elektron Energy Development.
The company received an operational licence for the project in September, with commercial operations expected to commence in December.
The project is expected to supply electricity to businesses through a dedicated distribution network, providing an alternative source of power for commercial customers within the Victoria Island area.
In Ogba, Sahara Power Enterprises Group began construction of a 12MW independent power plant in August.
The project, which reportedly involves an investment of $12m, is targeted for completion in the first quarter of 2027.
Beyond large independent power projects, private-sector participation in Lagos is also expanding into off-grid generation, embedded generation, private electricity distribution and mini-grid projects.
In May, the Lagos State Electricity Regulatory Commission approved 14 licences and permits covering various areas of the electricity market, including off-grid generation, embedded generation, independent electricity distribution, metering and interconnected mini-grids.
The regulatory approvals demonstrate the increasing diversification of private investment in the state’s electricity sector.
Among the approved projects was Axxela’s 5.8MW off-grid electricity project for Cadbury Nigeria in Agidingbi.
The commission also approved a 9MW embedded generation project by Isolo Power Gen and granted an independent distribution network licence to Isolo Power Supply.
Other proposed projects remain under regulatory consideration.
Applications under review include proposed 10MW, 24MW, 30MW and 50MW electricity projects in Epe, Apapa, Agidingbi and Ibeju-Lekki respectively.
However, the projects under consideration have not received final approval and should not be regarded as operational or committed generation capacity.
The range of projects reflects the changing structure of Lagos’ electricity market, with private operators increasingly involved in dedicated power supply for critical infrastructure, industrial and commercial consumers, independent distribution and decentralised generation.
The development also comes against the background of longstanding challenges in Nigeria’s electricity sector, including inadequate generation capacity, transmission constraints, distribution challenges and the high cost of alternative power sources for businesses and households.
For Lagos, the state government has sought to use its electricity law to establish a regulatory framework that can facilitate greater participation by private investors while allowing the state to play a stronger role in electricity supply.
The November summit is therefore expected to examine how the framework has performed since its introduction and whether it is creating the conditions required to attract additional investment.
Stakeholders are also expected to discuss renewable energy, electricity infrastructure and decentralised generation as the state explores different approaches to improving electricity supply.
The government’s assessment will come at a time when several private projects are moving from regulatory approval into construction and commercial operations.
The outcome of the summit could therefore shape the next phase of private-sector participation in Lagos’ electricity market, particularly in generation, transmission and distribution.
With the state targeting a significant increase in available electricity capacity over the coming years, the government is expected to use the summit to review existing investments, identify regulatory or investment gaps and explore additional partnerships capable of expanding electricity supply across Lagos.
