The Lagos State Government, on Thursday, expressed its full support for the Federal Government’s initiative aimed at complete liberalisation and deregulation of the power sector.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, emphasized the importance of power in driving and sustaining economic growth in the country.
She made these remarks during a one-day symposium organized by the Lagos State Cooperative College in the Agege area of Lagos.
Ambrose-Medebem stated, “Power is needed to drive and sustain economic growth, and as such, the current attempt at full liberalisation and deregulation of the power sector is highly welcomed.”
Represented by the Director of Cooperative Services, Zulikat Ibrahim, the commissioner highlighted that in developed countries, power supply is given top priority, with substantial multi-sectoral investments in cost-effective power solutions to ensure stability for productive purposes.
She expressed her belief that the existing regulatory framework in the power sector could be a significant game-changer if the nation seizes opportunities by making sound business and investment decisions.
