Lagos News

Sanwo-Olu Eyes Economic Development After Unveiling 50 Megawatts Electricity

Sanwo-Olu Eyes Economic Development After Unveiling 50 Megawatts Electricity

In a move to geared towards boosting economic development, the Lagos State Government has unveiled its plan to deliver 50 megawatts of electricity to residents for 20 hours daily as part of the Lagos State Electricity Policy initiative.

Governor Babajide Sanwo-Olu spoke of the development at the closing ceremony of the Young Africa Industrialists week in commemoration of the annual Africa Industrialisation day held at Adeyemi-Bero Auditorium, Alausa, Ikeja.

The Governor, who was represented by the Commissioner for Youth and Social Development, Mr. Olusegun Dawodu, stated that the Lagos State Electricity Policy framework will create a sub-national electricity sector entirely off the national grid and cater for the energy needs of households in the State.

“It is time to think outside the box. You can for instance begin to think of developing machines that refine raw materials in small qualities to start with, but run solely on solar or other forms of clean energy. It is not the time to think of things we don’t have, rather, it is the time to maximise the opportunities at our disposal”, Sanwo-Olu said.

While commending the creativity and resilience of Young Industrialists, Governor Sanwo-Olu urged them to tap into the opportunities made available by the State government, through finance, entrepreneurship and technical support, to provide workable solutions to the challenges of industrialisation in the State and Country at large.

“I want you to know that we, the society, expect more from you in terms of innovation and creativity that will put an end to the challenges of industrialisation in Africa”, he said.

The Governor, however, assured that his administration will continue to give listening ears to all ideas put forward by Industrialists and also give maximum support until such ideas develop into the next big invention.

Also speaking at the event, the Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs) Lola Akande, said the week-long event was impactful and successful.

Akande noted that during the four-day exhibition, a team of credible assessors were on ground to evaluate and score all projects presented by pupils and students of participant institutions in order to encourage and inculcate in them a sense of healthy rivalry and innovativeness.

In her words: “As a responsive government, we are committed to bringing onboard partner organisations that would support our young talents and aspiring industrialists to ensure the commercialisation and sustainability of all project initiatives. This will also encourage young aspiring industrialists and act as a catalyst for the discovery and development of other young talents”.

“I urge all our promising young talents not to relent in their efforts at making the world, especially our dear State, a better environment where technology driver commerce and industry would have its pride of place”, she added.

The Commissioner pledged that the Ministry will continue to facilitate a conducive environment for commerce to thrive and provide necessary promotional support through policies and programmes in order to attain a sustainable business environment.

Akande, therefore, charged all stakeholders and blue-chip companies to rise to the challenge of mentoring and supporting Young Industrialists and Innovators towards improving the productivity of industries in Lagos State.

The Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mrs. Olatokunbo Emokpae, enjoined all to take advantage of the business interactions and vast networking platform created during the four-day event to impact their businesses for improved productivity that would enhance the growth of the economy.

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