The Lagos State Government has raised alarm over the staggering cost of electricity consumption by residents, revealing that more than **N13 trillion** is spent monthly on power despite ongoing issues of erratic supply.
This revelation was made on Thursday by the Commissioner for Energy and Mineral Resources, **Mr. Biodun Ogunleye**, during a press briefing held at the Bagauda Kaltho Press Centre, Alausa, Ikeja. The briefing was part of preparations for the **inaugural Lagos Energy Summit**, scheduled to take place from **April 15 to 18, 2025**.
According to Ogunleye, the current power expenditure—borne by both residents and the government—is not only unsustainable but also highlights the urgent need for a transformative energy policy.
Spending N13 trillion every month on electricity that remains unreliable is a clear sign that we must rethink our energy systems,” Ogunleye said.
He emphasized that the forthcoming summit will bring together stakeholders, investors, and policymakers to explore alternative and renewable energy solutions that can meet the city’s growing demand for power in a more efficient and cost-effective manner.
The commissioner added that the state is committed to attracting investments in clean energy to reduce dependence on traditional power sources, which have failed to meet the needs of Africa’s largest commercial city.
The Lagos Energy Summit will also spotlight opportunities in solar energy, gas-to-power infrastructure, and off-grid solutions aimed at reshaping the future of energy in the state.
