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FG- Imo: :Regulatory Oversight of The State Electricity Market Is Now Underr ISERC

By Favour Ifeoluwa & Akinola Ajibade  The Federal Government yesterday( Monday) announced the transfer of Regulatory Oversight of the Electricity Market in Imo State to the state electricity regulatory commission, otherwise known as (ISERC). In a statement issued by the Nigerian Electricity Regulatory Common( NERC), the development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), reiterating that all transfers envisaged by this order shall be completed by 31 December 2024. According to the Commission,the transfer Order’s provisions include: “Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC, and that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the in
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Lagos will become Africa mega city by 2052



 By Favour Ajibade

Lagos state governor, Mr Babajide Sanwoolu, yesterday, said that plans are underway to turn Lagos to Africa model mega city by 2052.

He spoke in Victoria Island, during the 9th edition of Ehingbeti Lagos Economic Summit.

According to him, the government is making concerted efforts towards conceptualising  and developing  a comprehensive 30-year plan.

He said that  Lagos State Development Plan 2052 has the ambition of transforming Lagos into Africa’s Model Mega City.

“The Lagos State Development Plan 2052 is built around four strategic pillars – Thriving Economy, Human-centric City, Modern Infrastructure and Effective Governance. This plan focuses on 20 strategic areas that will drive this ambition.

“This long-term development plan has been meticulously devised to accommodate the best of all existing and prior high-level policy documents, transformation plans and development policies, including the THEMES Agenda.

“In line with the ongoing work to finetune the Lagos State Development Plan 2052, the focus of this year’s Ehingbeti Summit will be on the long-term sustainable socio-economic development of Lagos State,” he said.

The Lagos State Development Plan 2052 is built around four strategic pillars – Thriving Economy, Human-centric City, Modern Infrastructure and Effective Governance.

The Governor said the implementation of the Development Plan requires purposeful and dedicated leadership.

“Our unwavering promise to you, as a State Government, is that we will provide the required leadership, to move from ideation to action, and to transform Lagos from Megacity to Model Megacity.

“As we look forward, Lagos State will continue to achieve its potential, which will be built on our resilience, our rich heritage of culture, innovation and entrepreneurship, and most importantly, our people. I am excited by what the LSDP 2052 has to offer our great state,” he said.

The Commissioner for Economic Planning and Budget, MrSam Egube, said the summit offers Lagos a better deal in growth prospects, as the state harnesses robust conversations with key private sector players.

Egube said the state government has implemented 210 of the 222 resolutions reached in the past eight editions of the economic summit, adding that the engagement with the private sector had helped improve accountability in governance.

The summit chairperson and Partner, PwC Nigeria, Mrs Mary Iwelumo, said the event, which is the 9th edition in the series, recorded historic participation of 30,000 participants within the country and overseas.

Attendees include members of the State Executive Council, current and past elected public office holders in Lagos, captains of industry, business leaders, diplomats, entrepreneurs and investors. (NAN)

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