The Lagos State Government has set a target of increasing electricity supply to more than 3,000 megawatts (MW) by March 2027, up from the current level of below 1,000MW, as it moves to tackle power shortages and support a 24-hour economy.
Governor Babajide 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.
Sanwo-Olu said the state planned to mobilise an additional 2,000MW through multiple sources, including the national grid, independent power projects, energy hubs, power barges, energy traders and embedded generation.
He stressed that achieving the target would require coordinated improvements in electricity generation, transmission, distribution, gas supply and metering, alongside a functional and commercially viable electricity market capable of attracting private investment.
“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,” the governor said.
He outlined a seven-point action plan covering the development of the Lagos Electricity Market, increased generation, improved distribution capacity, stronger transmission infrastructure, better networks and metering, reliable gas-to-power arrangements, and enhanced information technology and market visibility.
The governor said the state was working to strengthen its transmission network, upgrade substations and distribution feeders, and expand metering coverage to reduce estimated billing and improve service delivery.
He also highlighted the importance of digital technologies, including Supervisory Control and Data Acquisition (SCADA), Advanced Metering Infrastructure (AMI) and the Lagos Electricity Intelligence Platform, in improving monitoring, transparency and accountability across the electricity market.
On renewable energy, Sanwo-Olu disclosed that about 42,000 of the 50,000 streetlights earmarked for solarisation had been completed. He added that solarisation projects had also been delivered in 175 public schools, with work ongoing in another 100.
He called on investors, financial institutions, energy operators and development partners to support the state’s electricity expansion drive, noting that reliable power was essential to industrial growth, job creation, business competitiveness and improved living standards.
In his keynote address, Vice President, Deepwater Assets and Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Ronald Adams, urged the Federal Government to sustain energy sector reforms to attract investment, accelerate oil and gas development, and expand access to reliable energy.
Adams said Nigeria’s estimated 37 billion barrels of oil and condensate reserves and more than 250 trillion cubic feet of gas reserves offered significant opportunities for industrialisation and economic growth. However, he warned that natural resource abundance alone would not guarantee prosperity without competitive fiscal policies, regulatory certainty, efficient project approvals and effective implementation.
He reaffirmed Shell’s commitment to Nigeria and stressed that natural gas should play a central role in electricity generation, manufacturing and industrial development.
According to him, the country’s energy future depends on converting its vast resources into dependable electricity, productive industries, job opportunities and shared prosperity.
President of the Lagos Business School Energy Club, Sebilat Quadri, said the conference was designed to bring policymakers, financiers, investors, energy operators, academics and other stakeholders together to address the challenges shaping Nigeria’s energy future.
She said the conference theme emphasised the need to translate the country’s energy potential into bankable projects, mobilised capital, critical infrastructure and measurable economic benefits.
Earlier, Dean of Lagos Business School, Prof. Olayinka David-West, described reliable, affordable and sustainable energy as critical to Nigeria’s economic growth, industrial development and investment prospects.
She urged stakeholders to adopt a holistic approach to addressing the sector’s persistent challenges, particularly in policy, infrastructure, financing and market development, noting that energy availability directly affects business competitiveness, industrial productivity, job creation and citizens’ quality of life.