Part 6/8:
Despite the potential for growth in Lagos’ electricity market, challenges remain. The over-reliance on independent generators has created a situation where resources are not being used efficiently. The region reportedly has around 3,500 megawatts of generator capacity, yet the infrastructure is fragmented and often underutilized.
As articulated by stakeholders, uniting these resources in a more coherent manner can yield benefits for both consumers and investors alike. By channeling investments into a structured market, the ultimate goal is to not only provide reliable power at lower costs but also to empower local businesses—leading to increased profitability and economic prosperity for the state.