Otunba Akinbo Akin-Olugbade, Managing Director of Kawai Technologies Ltd, has put forward proposals for the incorporation of the Nigerian Electricity Act 2023 into the laws of Lagos State.
In a statement obtained by AdvisorsReports, the former Chairman, Power Sector Group, Lagos Chamber of Commerce and Industry, LCCI, emphasized the need for the Lagos State Government to develop a state-level electricity market framework that is in line with the national Act and customized to the specific requirements and existing systems of Lagos.
Akin-Olugbade highlighted various aspects of this framework, including local licensing requirements, tariff structures, dispute resolution mechanisms, and specific regulations and incentives to promote the integration of renewable energy within Lagos’s energy mix.
He also urged the government to focus on enhancing distribution infrastructure, addressing access disparities, and establishing clear mechanisms for consumer engagement in the electricity market.
Furthermore, he called for the establishment of strong collaborative relationships with the Nigerian Electricity Regulatory Commission, the use of digital platforms and data analytics to improve transparency and accountability, the training and upskilling of the local workforce, and the creation of a regulatory sandbox environment for testing innovative technologies and business models in the electricity sector.