Lagos State Government is set to review private investment opportunities and private-sector participation in its electricity market in November as it assesses developments under the state’s 2024 electricity law.
The government disclosed this in a statement seen by Nairametrics and issued by the Ministry of Energy and Mineral Resources ahead of the second Lagos Energy Summit, scheduled for November 10 and 11, 2026, in Victoria Island, Lagos.
The discussions will come as several private power projects move through licensing, construction and development stages across Lagos, while other prospective projects remain under regulatory review.
The 2026 Lagos Energy Summit will focus on the implementation of the Lagos State Electricity Law, 2024, particularly its implications for private-sector participation and investment across the electricity value chain. The summit was initially scheduled for September but was moved to November to allow for further preparations.
The state said discussions will examine the evolving regulatory framework and how it can support a reliable and sustainable electricity market, with renewable energy, electricity infrastructure and decentralised generation expected to feature.
The summit will therefore review progress since the electricity law was enacted while identifying areas for strategic investment and partnerships across generation, transmission and distribution. The discussions come as private operators continue to develop projects and enter supply arrangements across Lagos.
The investment discussion comes as several private operators are already developing power projects and entering supply arrangements across Lagos. One of the latest is Fenchurch Power Limited’s 26MW rebuild of the Akute Independent Power Plant, being delivered through its concession with the Lagos State Government.
Elektron Energy Development received an operational licence in September for its 40MW Victoria Island Power project, which is expected to begin commercial operations in December and supply businesses through a dedicated distribution network.
Sahara Power Enterprises Group began construction in August on a 12MW independent power plant in Ogba, with a reported investment of $12 million and completion targeted for the first quarter of 2027.
Private-sector participation is also extending beyond larger independent power plants into off-grid generation, embedded generation, private distribution and mini-grids. In May, the Lagos State Electricity Regulatory Commission approved 14 licences and permits covering off-grid generation, embedded generation, independent electricity distribution, metering and interconnected mini-grids.
The projects cover a range of private participation, including dedicated electricity supply for critical infrastructure, industrial and commercial customers, private distribution and decentralised power projects.
