The Lagos State Government has unveiled plans to bridge the staggering 8,500MW shortfall in its industrial electricity supply, aiming to meet the growing demand of 12,000MW. Currently, the state’s power supply stands at a mere 3,500MW, severely hindering its industrial growth.
According to the State Commissioner for Commerce, Cooperative, Trade and Investment, Mrs Folashade Ambrose, the validation of the Lagos State Industrial Policy (2025–2030) marks a significant milestone in the state’s journey to become a hub of industrial excellence.
Lagos boasts a thriving startup ecosystem valued at over $9 billion, having produced some of Africa’s most successful unicorns. The state’s industrial policy aims to leverage this potential, driving economic growth and development.
To achieve its ambitious target, Lagos is exploring various options, including the development of new power generation hubs. The state plans to create four power generation hubs under the Clean Lagos Electricity Market (CLEM) project, each with a minimum capacity of 500MW.
With its sights set on becoming a major industrial hub, Lagos is poised to transform its economy and cement its position as a leader in Africa’s industrial landscape.
