Gov. Babajide Sanwo-Olu of Lagos State says the state government plans to increase electricity supply to 3,000 megawatts (MW) from the current level of below 1,000MW, by March 2027.

Sanwo-Olu said the initiative was part of efforts to end blackouts and build a 24-hour power economy in the state.

He spoke at the Fourth Lagos Business School (LBS) Africa Energy Conference 2026, on Saturday at Lekki.

The conference had the theme: “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilisation and Pathways to a Sustainable Power and Energy Market”.

The governor was represented by his Deputy, Dr Obafemi Hamzat.

He said the state was working to mobilise  additional 2,000MW through national grid resources, independent power projects, energy hubs, power barges, energy traders and embedded generation.

He said achieving the target would require coordinated improvements across the electricity value chain, including generation, transmission, distribution, gas supply and metering.

“Lagos needs more power.

“Our immediate objective is to mobilise 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.

“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,” he said.

Sanwo-Olu outlined a seven-point action plan to meet the target.

The action plan includes making  Lagos Electricity Market fully functional, increasing electricity generation, strengthening distribution capacity, reinforcing transmission infrastructure and improving networks and metering.

The plan also includes strengthening gas-to-power arrangements, enhancing information technology, and increasing market visibility.

He said the state was working to strengthen its transmission network, improve substations and distribution feeders, and expand metering coverage to reduce estimated billing and improve service delivery.

The governor added that the government was  working to establish clear contractual obligations, improve coordination among electricity market operators and regulators, and create a commercially-viable environment to attract private investment.

He emphasised the importance of reliable gas supply to power plants and deployment of digital systems, including Supervisory Control and Data Acquisition, Advanced Metering Infrastructure and Lagos Electricity Intelligence Platform, to improve monitoring, accountability and transparency.

Sanwo-Olu said Lagos had recorded progress in renewable energy interventions, with about 42,000 of the approximately 50,000 streetlights earmarked for solarisation completed.

He said that solarisation projects had been implemented in 175 public schools, while work was ongoing in another 100 schools.

The governor called on investors, financial institutions, energy operators and development partners to collaborate with the state in implementing the plan.

He said reliable electricity was essential to industrial growth, job creation, business competitiveness and improved living standards.
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“The focus is now on disciplined implementation and measurable results that will support development of a sustainable electricity market and strengthen  economic growth of Lagos,” he said.

In a keynote address, Mr Ronald Adams, Vice President, Deepwater Assets and Managing Director of Shell Nigeria Exploration and Production Company Ltd., called for sustained implementation of Nigeria’s energy sector reforms.

According to him, the implementation will attract investment, accelerate oil and gas development and translate the country’s vast natural resources into economic growth, job creation 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 said that Nigeria’s estimated 37 billion barrels of oil and condensate reserves, alongside more than 250 trillion cubic feet of gas reserves, presented significant opportunities for economic development.

He, however, stressed that resource abundance alone could 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 would depend on converting its resources into reliable power, productive industries and shared prosperity.

Ms Sebilat Quadri, President of the LBS Energy Club, said the conference aimed to provide a platform for policymakers, financiers, investors, energy operators, academics and other stakeholders to engage meaningfully on issues shaping Nigeria’s energy future.

She said the theme of the conference reflected the need to translate Nigeria’s considerable energy potential into bankable projects, mobilised capital, critical infrastructure and measurable impact.

Earlier, Prof. Olayinka David-West, Dean of LBS, emphasised the importance of reliable, affordable and sustainable energy to Nigeria’s economic growth, industrial development and shared prosperity.

David-West said energy remained central to Nigeria’s development because it influenced business competitiveness, industrial productivity, citizens’ quality of life and  economy’s capacity to generate jobs and prosperity.

She said that achieving a sustainable energy future would require the country to address persistent challenges in policy, infrastructure, financing and market development.

The dean urged stakeholders to look beyond individual interventions and adopt a holistic approach that would positively impact the entire energy ecosystem.