{"id":16654,"date":"2026-11-13T08:47:06","date_gmt":"2026-11-13T08:47:06","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/13\/nigerias-commercial-capital-courts-22-investors-to-unlock-power-deals-expand-supply-businessday-ng\/"},"modified":"2026-11-13T08:47:06","modified_gmt":"2026-11-13T08:47:06","slug":"nigerias-commercial-capital-courts-22-investors-to-unlock-power-deals-expand-supply-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/13\/nigerias-commercial-capital-courts-22-investors-to-unlock-power-deals-expand-supply-businessday-ng\/","title":{"rendered":"Nigeria’s commercial capital courts 22 investors to unlock power deals, expand supply – Businessday NG"},"content":{"rendered":"

Lagos, Nigeria\u2019s commercial capital, is in talks with about 22 investors to close energy-sector deals as it tries to add 2,000 megawatts of electricity by March 2027, an effort to narrow a supply gap that leaves businesses and households paying heavily for unreliable power.\n<\/p>\n

Biodun Ogunleye, the state\u2019s commissioner for energy and mineral resources, said the discussions are running alongside work to settle outstanding issues over power purchase agreements with federal authorities.\n<\/p>\n

He said he was optimistic that resolving those contractual and investment problems would improve electricity supply.\n<\/p>\n

He spoke at the Lagos Energy Summit 2026, held under the theme \u201cLagos Energy Evolution: Transforming the Future.\u201d\n<\/p>\n

Ibilola Kasunmu, permanent secretary at the Ministry of Energy and Mineral Resources, said Lagos has an estimated 22 million people and demand of about 6,000 megawatts, yet receives less than 1,000 megawatts from the national grid. That means the state is getting well under a sixth of what it needs.<\/p>\n

Kasunmu named four problems behind the gap: inadequate generation, constraints on gas supply, weak transmission infrastructure and poor systems for collecting payment from electricity users.
The state plans to close the shortfall through embedded generation, solar power, waste-to-energy projects and better gas availability, she said. A joint technical working committee, supported by the federal government, is part of that effort.\n<\/p>\n

Ogunleye said the transformation sought by the state goes beyond generating more power. Transmission and distribution networks also need strengthening, he said, along with energy security and the elimination of energy poverty.\n<\/p>\n

He also pointed to renewable sources, including solar, wind and hydropower, and urged households and businesses to consider alternatives while the state works toward a stronger national grid.
Babajide Sanwo-Olu, represented at the summit by Abimbola Salu-Hundeyin, secretary to the state government said reliable power is critical to economic growth and that the state is working to increase generation and supply.\n<\/p>\n

He acknowledged the burden on the people who depend on it.\n<\/p>\n

\u201cManufacturers, small businesses and households have continued to bear the burden of unreliable electricity and high energy costs,\u201d he said.<\/p>\n

The administration, he said, has tried to create conditions for businesses to thrive through better power infrastructure, regulatory changes and greater private-sector involvement. Those changes include restructuring the electricity market, strengthening regulatory institutions and building a competitive environment to attract private capital, according to the governor.\n<\/p>\n

Sanwo-Olu said the reforms are meant to set clear frameworks for licensing, consumer protection and market development, while keeping electricity providers accountable and responsive to the people they serve. He urged stakeholders to move beyond policy aspirations and deliver practical solutions that improve supply and make a difference in residents\u2019 lives.\n<\/p>\n

The state government also said it is stepping up automation of energy assets to improve monitoring, tackle electricity theft and vandalism, and make service delivery more efficient. It reiterated its commitment to modernizing the sector through regulatory reform, partnerships with private companies and infrastructure investment.\n<\/p>\n

The pledges are ambitious given the starting point. Adding 2,000 megawatts by March 2027 would be a substantial step, though it would still cover only a third of the estimated 6,000 megawatts the state needs.\n<\/p>\n

The deals being negotiated with the 22 investors, and the resolution of the power purchase agreement issues with federal authorities, will determine how much of that target is met on schedule.<\/p>\n

\n

Related News<\/h4>\n<\/p><\/div>\n
Advertisement<\/span><\/div>\n
\n\t
\n\t\t\"Add
\n\t<\/a>
\n\t
\n\t\t\"Follow
\n\t<\/a>\n<\/div>\n

Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

Lagos, Nigeria\u2019s commercial capital, is in talks with about 22 investors to close energy-sector deals as it tries to add 2,000 megawatts of electricity by March 2027, an effort to… <\/p>\n","protected":false},"author":1,"featured_media":16655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=16654"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/16655"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=16654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=16654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=16654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}