• follow us in feedly
Business, headlines, Latest, Property

Lagos targets 3,000 Megawatts power distribution to homes, Land Use adjustment

By Abdulwaheed Usamah,

The Lagos State Government has disclosed that its plans for 2018 was to begin working on how it would able to have distribution of 3, 000 megawatts to homes across the state through an embedded power supply project.

It also disclosed that has plans to also consider reviewing of Land Use Charge Law so as to improve values of property in Lagos and provide both local and foreign investors a friendly environment.

Specifically, the power project, aimed at delivering an estimated 3,000 Megawatts to homes and industries, is expected to lift the economy of Lagos, while revised Land Use Charge Law had been designed to improve the values of property in the State.

recently,  the Lagos State House of Assembly announced passage of two bills expected to provide legal framework for programmes by enacting the Lagos State Embedded Power Supply Law 2018 and the Lagos State Land Use Charge Law 2018.

As gathered, both laws were expected to be signed in few days by the State Governor, Akinwunmi Ambode.

The  Commissioner for Information and Strategy, Kehinde Bamigbetan, said the two strategic laws were part of the grand plan of the present administration to boost the economy and make life easier and comfortable for the people.

Through a statement released on Saturday from the commissioner office, Bamigbetan stated that power  programme would provide enabling environment for private sector to generate not less than 1000 mega watts every yearly in  first phase of three years by using gas to produce power and distributing the electricity to consumers.

He assured that the state government would guarantee off-take of generated power, indicatong that the product was expected to expand distribution network and increase metering capacity of the electricity distribution firms in Lagos state including Eko Distribution Company and Ikeja Electricity Distribution Company.”

Bamigbetan said to ensure return on investment by participating companies and encourage more electricity companies to invest in the embedded power sector, the law has been arranged to provide the framework for the government to support the firms in the collection of tariffs and enforcement of contracts.

“A novel feature of the law is the introduction of provisions for the prosecution and sentencing of those who tap electricity illegally or use the power produced through the embedded power system without entering into contracts with the companies.

“Defined as power theft, industry watchers believe that this is the first law to provide penalties for a major cause of financial failures of electricity companies and with regular power supply in homes and industries, the Lagos State Government expects a giant leap in the production and growth of the economy,” Bamigbetan said.

On the land use charge, the commissioner explained that the planned review was considered as the answer to the agitations of residents for a transparent process of determining rates.

He disclosed that inder the revised law, estate valuers authorised to assess and value tenements will ensure that the data are reliable and the indices are explicit.

“The revised law also exempts tenements owned by non-profit organisations, religious bodies and public cemeteries and burial grounds”, he added.



Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.