Governor Sanwo-Olu commits to attracting investment in Lagos’ offshore, deepwater

Oredola Adeola

The Lagos State Government advancing its renewable energy goals with plans for 1,000 MW dedicated to the state’s electricity market, alongside an additional 2,000 MW currently in procurement, as part of its commitment to sustainable energy solutions and energy security for Lagos residents.

The State has also committed itself to installing 22,000 solar-powered streetlights capable of lasting three days without sunlight to enhance urban infrastructure and promote clean energy in the state.

Governor Babajide Sanwo-Olu, Governor of Lagos stated this in his address at the opening on Monday at the 42nd NAPE Annual International Conference & Exhibition in Lagos.

The Governor who was represented at the conference by Mr. Biodun Ogunleye, Commissioner for Energy and Mineral Resourcesa said, ” Lagos State has issued an Expression of Interest (EOI) and we are working towards the goal of harvesting about 1,000 MegaWatts of renewable energy specifically for the state’s electricity market.

“This renewable energy capacity will be further bolstered by an additional 2,000 MW currently in procurement,” he said.

Speaking on the theme of the conference, “Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth, and Affordability,” Governor Sanwo-Olu emphasized Lagos State’s commitment to meeting residents’ needs sustainably while pursuing the government’s broader vision.

According to the Governor, Lagos consumes more than 50 percent of all domestic energy while occupying less than 1 percent of the available land space.

He said, “Lagos plays significant role in Nigeria’s energy landscape, hence, we equally face the challenge of balancing stability, economic growth, and environmental responsibility.

“Energy security is crucial to Nigeria’s economic stability and development.

“A consistent energy supply forms the backbone of industry, economic diversification, and improved living standards for all Nigerians.

“Achieving this requires investment in diversified energy sources, modernized infrastructure, and a resilient supply chain to ensure energy availability despite regional and global shifts,” he said.

The Governor further stressed that as Nigeria’s population and economic aspirations expand, it is essential to increase energy capacity while minimizing environmental impact.

“Sustainable growth strategies, like adopting cleaner technologies and investing in renewable energy, ensure that the industry supports long-term ecological balance and resource preservation.

“We are dedicated to providing energy for all, balancing energy security with environmental stewardship, and promoting economic growth that uplifts communities and protects future generations, ” he stated.

Speaking on the commitment of Lagos State’s focus on the oil and gas sector, Governor Sanwo-Olu said, “We are taking a deep look into the oil and gas space, from production to downstream operations.

He therefore charged stakeholders and investors in the oil and gas sector to commit not only to increasing production but also to fostering local content and building systems that reduce dependency on single energy sources while enhancing resilience.

According to the Governor, affordability is a critical factor, as high energy costs impact everything from household expenses to industrial competitiveness.

“By adopting cost-saving measures in a sustainable manner, we can drive down the cost of energy production, improve distribution efficiency, make energy more accessible for all citizens, and strengthen Nigeria’s global position,” he noted.

Governor Sanwo-Olu, further assured that Lagos State is taking proactive approach to attracting both local and international investment, especially in the offshore and deepwater sectors, with ongoing efforts to streamline production and boost local content capacity.

“We remain committed to fostering partnerships with NAPE to advance these goals and support an affordable, reliable energy sector for Lagos and Nigeria,” he said.