The Lagos State Government has unveiled plans to deliver 50 MegaWatt of electricity for 20 hours daily to residents through the Lagos State Electricity Policy.
Governor of Lagos, Mr Babajide Sanwo-Olu made this known in a statement on Saturday signed by Mr Kayode Oyekanmi, Director Public Affairs, Ministry of Commerce, Industry and Cooperatives (MCIC).
Sanwo-Olu said the development was part of the efforts of his administration to accelerate industrialization within the state.
The Governor added that the Lagos State Electricity Policy framework was set to create a sub-national electricity sector that would be entirely off the national grid and cater for the needs of households in the state.
Commending the creativity and resilience of young industrialists, Sanwo-Olu urged them to tap into the opportunities made available by the state government.
He said that some of these were finances, entrepreneurship and technical support.
Sanwo-Olu said they could use these to provide workable solutions to the challenges of industrialization in the state and country at large.
“It is time to think outside the box. You can for instance begin to think of developing machines that refine raw materials in small qualities to start with, but run solely on solar or other forms of clean energy.
“It is not the time to think of things we don’t have, rather, it is the time to maximize the opportunities at our disposal”, Sanwo- Olu said.
“I want you to know that we, the society, expect more from you in terms of innovation and creativity that will put an end to the challenges of industrialisation in Africa”, he said.
He assured that his administration would continue to give listening ears to all ideas put forward by industrialists and also give maximum support to develop them into the next big invention.
Also, Commissioner, MCIC, Dr Lola Akande pledged the ministry’s commitment to continue to facilitate conducive environment for commerce to thrive.
She said that the state was ready to provide necessary promotional support through policies and programmes in order to attain a sustainable business environment.
Akande charged stakeholders and blue-chip companies to rise to the challenge of mentoring and supporting young industrialists in the state to improve the productivity of industries.