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He said the Lagos State Government is ready to work with the critical stakeholders to actualise the targeted increase in available electricity supply to about 3,500 megawatts (MW) through coordinated action on generation, transmission, distribution and metering.

Governor Sanwo-Olu made the commitment on Thursday at the Lagos State High-Level Strategic Power Town Hall, held at Lagos House, Marina, to critically assess the state’s electricity situation and develop practical solutions to the challenges affecting generation, transmission and distribution.

The high-level engagement was attended by stakeholders across the electricity value chain, including regulators, power distributors, transmission operators, asset managers, investors and representatives of the Federal Government and Lagos State Government.

The town hall meeting focused on how Lagos can leverage its enormous electricity demand, existing infrastructure and emerging state electricity market to attract investment and deliver more reliable power to homes, businesses and industries.

Speaking at the town hall meeting, Governor Sanwo-Olu called for stronger coordination, smart metering, better data management, enforcement and revenue assurance as panacea to the perennial challenges facing the sector. He said stakeholders must work together to build consumer confidence and attract investment.

Also speaking, the Minister of Power, Mr. Joseph Tegbe, who was represented by the Director of Distribution Services in the Federal Ministry of Power, Engr. Baba Mustapha, said Lagos requires more than 6,000MW, but currently receives far less from the national grid.

He stressed that increased generation would have limited impact without adequate transmission and distribution infrastructure, identifying gas supply, generation, transmission capacity, distribution bottlenecks and metering as key priorities.

The Special Adviser to the President on Power and Chairman of the Presidential Taskforce on Power Sector Reset and Restoration, Dr. Rilwan Lanre Babalola, said the challenge before Lagos and Nigeria was no longer simply about generating more electricity, but about building a functional and sustainable electricity market.

He said the country must move away from a system where government continuously acts as buyer, guarantor and absorber of losses across the electricity value chain.

Babalola explained that the proposed Clean Lagos Electricity Market (CLEM) could provide a practical model for transforming Lagos’ huge electricity demand into a structured and investable market through demand aggregation, bilateral contracting, open access, payment assurance and transparent settlement.

He said stakeholders must be able to establish where the demand and customers are, where electricity and gas will come from, whether the network can deliver the power, the efficient tariff and how payments will move transparently to generators, network operators and gas suppliers.

Babalola also highlighted the importance of decentralisation following constitutional amendments and the Electricity Act, which have opened the way for states to establish and regulate their electricity markets.

Also speaking, the Lagos State Commissioner for Energy and Mineral Resources, Mr. Abiodun Ogunleye, said the town hall meeting was convened to bring an end to what he described as the culture of blackout in Lagos.

He said Lagos State would develop clear action points and establish a baseline for measuring progress at the proposed six-month review.

On tariffs, Ogunleye stressed that improved electricity supply must accompany payment, insisting that consumers should not be made to pay for darkness

He explained that achieving the target would allow more feeders to operate and provide increased electricity to homes and industries that require reliable power for productive activities.

Ogunleye also disclosed that newly commissioned substations would contribute to the state’s power infrastructure, while the government would work with distribution companies to monitor selected feeders and measure improvements in electricity supply.

The Chief Executive Officer of the Lagos State Electricity Regulatory Commission, Temitope George, identified constraints in generation and transmission, energy theft, vandalism and non-payment of electricity bills as major challenges affecting the sector.

George urged electricity consumers to pay for the power they consume, warning that non-payment distorts the electricity market and ultimately affects the ability of other consumers to receive adequate supply.

She said Lagos State is also exploring embedded power generation to complement electricity from the national grid and reduce overdependence on the national system.

The town hall ended with a commitment by stakeholders to translate the discussions into concrete action points, establish measurable baselines and periodically assess progress.

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The exercise, conducted pursuant to orders of the Federal High Court, Lagos Judicial Division, disposed of uncontested concluded cases and abandoned seizures. Of the total consignment, 246,864.535 kilograms were seized by the Lagos Strategic Command of the Agency between April 2025 and May 2026, while 83,001.05 kilograms came from the Murtala Muhammed International Airport (MMIA), Tincan and Apapa Strategic Commands, as well as the Marine Command and a Special Operations Unit, all operating within Lagos.
The destroyed illicit drugs comprised mainly cocaine, heroin, methamphetamine, cannabis of different strains including Canadian Loud and skunk, ephedrine, tramadol, codeine syrup and other opioids, as well as khat leaf.
Speaking at the event held at Navy Town in Ojo area of Lagos on Monday 17th August 2026, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) described the exercise as a bold demonstration of Nigeria’s resolve to protect its people and deny criminal enterprises the resources they need to thrive. He noted that behind every kilogram of narcotics destroyed lies a story of a young life at risk, a family torn apart by addiction, and communities endangered by drug-related crime and impaired driving.
Marwa said the destroyed consignment represented more than the elimination of contraband, stressing that illicit drugs weaken the labour force, raise healthcare costs, discourage investment and drain public resources that should go into education, healthcare and infrastructure. He added that every consignment intercepted by the Agency saves the country billions of naira in potential losses linked to addiction, crime and social dislocation.
The NDLEA boss also linked the trade in illicit drugs to Nigeria’s broader security challenges, noting that drug trafficking helps fund organised crime, terrorism and violent extremism globally, and that by seizing and destroying such substances, the Agency is strengthening the country’s national security architecture.
He commended the support of President Bola Ahmed Tinubu, and his administration’s strategic backing for the Agency’s mandate, as well as the partnership of the Judiciary, the Lagos State Government, the military, sister security agencies, international partners, civil society, traditional institutions, the media and members of the public.
Marwa paid tribute to NDLEA personnel across the country, particularly those serving in Lagos while acknowledging the risks and sacrifices they make in the course of their duty.
Issuing a stern warning to drug barons, traffickers, financiers, distributors and dealers, the NDLEA Chairman declared that their days of operating with impunity are over. “Wherever you hide, whoever sponsors you and however sophisticated your network may be, the long arm of the law will reach you,” he said, vowing that the Agency remains resolute, relentless and uncompromising in pursuing and dismantling every criminal network and its financial spine.
He called on all Nigerians, parents, schools, religious and traditional leaders, and the media to become active stakeholders in the war against illicit drugs, stressing that the battle cannot be won by the NDLEA alone.
Speaking at the ceremony, Lagos State Governor Babajide Sanwo-Olu said “the scale of what has been destroyed today, about 300 tons of narcotics and psychotropic substances, is a huge and sobering reminder of the enormity of the threat that illicit drugs pose to our communities, our young people, and our collective future. It is also, in equal measure, a powerful testament to what becomes possible when law enforcement, the judiciary, and the government work hand in hand, not merely to enforce the law, but to uphold justice, protect society, and secure a better future for our people. It reminds us that when institutions unite around a shared purpose, the law becomes more than an instrument of enforcement.”
Represented by the Secretary to the State Government, Mrs. Bimbola Salu-Hundeyin, the governor assured that “Lagos State is unwavering in its resolve to confront drug abuse and trafficking, and we will not relent in our efforts to do this.”
In his goodwill message, the Comptroller General of Customs Bashir Adewale Adeniyi noted that the “NDLEA deserves all the accolades they have received from local and international partners”, adding that “It is not just about the size of what we are seeing but about the scope of what has been taken from operations conducted in our seaports, at our airports, at our land borders. This therefore represents a very strong message to drug dealers that they are no longer welcome in Nigeria.”
He noted that there’s a nexus between drug dealers and violent non-state actors because drug continues to provide the oxygen for their crime. “Bandits, kidnappers, armed robbers, insurgents, terrorists, this is their oxygen and so the destruction that we are going to witness today is symbolic of two things: drug dealers are going to be losing investments worth billions of naira and we are going to be denying non-state violent actors the necessary oxygen that they need for their heinous crime and as we hope that we suffocate them, deny them access to this kind of thing, we believe that this will continue to be their lot. They will continue to invest and they will continue to lose their investments. I want to commend the chairman of NDLEA and in fact all our officers and men operatives throughout our commands who are responsible for this”, he added.
Speaking in the same light, the Chief of Naval Staff Vice Admiral Idi Abbas represented by the FOC Western Naval Command, Rear Admiral Abdullahi Mustapha assured of continued support for Nigeria’s drug control efforts being coordinated by NDLEA.

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Themed ‘Beyond Interest’, the forum was convened to advance the case for non-interest finance as a practical route to mobilising patient capital into Nigeria’s productive economy, as well as press investors and policymakers to judge every allocation by both the returns it earns and the capacity it builds.

The programme, which was also supported by AltDrive and Nigeria’s first full-fledged composite takaful operator, Noor Takaful, featured a series of intelligence briefings from public-sector leaders, capital-market operators and non-interest finance advocates.Opening the forum, Muhtar Bakare, Chairman of

The Alternative Bank, framed the day around a single question: how to mobilise capital in ways that serve both those who own it and the society in which it must earn its return.

He argued that Nigeria’s constraint is less a shortage of capital than a shortage of the trust that allows capital to do patient work.“What we lack is not effort. We lack capital that stays long enough to turn effort into capacity, capacity into durable jobs and durable jobs into stability. That is why the distinction between extractive and productive capital matters,” Bakare said.

The Executive Governor of Lagos State, H.E. Babajide Sanwo-Olu, delivered a keynote address on the state’s role as a catalyst for private capital.

The address positioned the government not as a competitor to private investment but as an enabler of it, citing Lagos’s infrastructure programme, the state’s recent dual bond issuance and the Lekki corridor as instances of public action changing the risk-return calculus for private investors.

“The future of finance is not only about the price of capital; it is increasingly about the quality of the economic activity that capital enables. Lagos is not only open for business; Lagos is prepared to do business.”

Sanwo-Olu, who was represented by the Honourable Commissioner for Finance, Abayomi Oluyomi, stated.In special remarks, Babatunde Raji Fashola, former Governor of Lagos State and former Minister of Works and Housing, shared his experience on the value of non-interest financing.

He argued that capital anchored to real, productive assets and to the public good delivers more durable value than money chased for short-term yield, and urged investors and institutions to weigh the long-term social returns of where they place their funds.Delivering his brief on ‘The Business Case for Ethical Capital’, Abubakar Suleiman, Promoter of Non-Interest Banking in Nigeria and Board Member of Sterling Financial Holdings Company Plc, traced The Alternative Bank’s journey from a modest non-interest window opened by Sterling Bank in 2014 to an institution he said now holds total assets approaching ₦500 billion and serves nearly a million customers.

He made the case for what he called a “full ledger” approach to investment, one that counts an allocation’s effect on customers, employees, communities, public infrastructure and the environment alongside the investor’s return.

“The Alternative Bank has shown that non-interest banking can grow, win customers, and generate profit. The business case for ethical capital already exists. Our task is to apply it with discipline,” said Suleiman.

He pointed to WasteBanc, AltBank’s recycling initiative with the Lagos Waste Management Authority, and to Nigeria’s sovereign Sukuk programme as evidence that values-aligned finance can hold to commercial standards while connecting capital to identifiable, productive assets.

Other speakers, Dr. Stanley Jacob, Group Chief, Innovation and Technology at Meristem, and Ajibola Tobi-Osho, Executive Director of Tugrande Alliance Limited, made a case for shifting the diagnosis of Nigeria’s – and Africa’s – financial challenges.

Jacob argued that Africa’s core financial challenge is infrastructural, not one of liquidity, and that the convergence of the Pan-African Payment and Settlement System (PAPSS) with the tokenisation of real-world assets could hand Nigeria a first-mover advantage in continental capital markets.

Tobi-Osho seconded the point, noting that while Nigeria has moved from crisis management to macroeconomic stability, the binding constraint has shifted from inflation to capital allocation, with banks parking record liquidity at the central bank rather than lending to the businesses that drive jobs and growth.

‘Beyond Interest’ drew a room of senior investors, executives and public-sector leaders, including Olatunji Mayaki, Chairman, Sterling Bank; Hassan Yusuf, Managing Director, The Alternative Bank; Adesuwa Okunbo Rhodes, Founder and Managing Partner of Aruwa Capital Management; Tonye Cole, Co-Founder and former Group Executive Director of Sahara Group; Aminu Tukur, Vice-Chairman, Noor Takaful; Korede Demola-Adeniyi, Executive Director, The Alternative Bank; Chief Idris Olorunnimbe, Chairman of the Board of the Nigerian Communications Commission; Yemi Keri, President of the Africa Business Angel Network (ABAN); Sadiq Dantata, Chairman, Golden Alchemy; Garba Mohammed, Executive Director, The Alternative Bank; Dr. Adesegun Akin-Olugbade, OON, Founder and Managing Partner, Luwaji Nominees; Sulaiman Adedokun, Group Managing Director, Meristem Securities Limited; Jimi Ogbobine, Associate Director and Head of Consulting, Agusto Consulting, and more.

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Speaking at the official launch of the Lagos State Building Insurance Scheme, the Chairman of  NIA and Managing Director/CEO of Rex Insurance Ltd, Mrs. Ebelechukwu Nwachukwu, praised Governor Babajide Sanwo-Olu’s administration for bridging the long-standing gap between policy and enforcement.

She said, “Today is not merely the launch of a new insurance scheme. It is the launch of a new way of protecting lives, property, and the future of Lagos State. This initiative demonstrates what is possible when government, regulators, and the insurance industry work together with a shared purpose to build a safer, more resilient society.

“Building insurance has existed in our laws for many years. What has often been missing is effective implementation. Today, Lagos State is bridging that gap. By combining geospatial intelligence, digital technology, and structured enforcement, the State is transforming a legal requirement into practical protection for its people. That is worthy of recognition.

“More importantly, it sends a powerful message that insurance is not an afterthought following disaster; it is an essential part of building safer communities before disaster occurs.

“Behind every building is more than bricks and concrete. There are families. There are businesses. There are livelihoods. There are dreams built over many years. When a building collapses, when fire destroys properties, or when floods devastate communities, it is not only infrastructure that is lost—it is hope, opportunity, and financial security.

“Insurance cannot prevent every tragedy. But it can ensure that tragedy does not become permanent hardship. That is why I say today, especially to property owners and developers: Insurance is not a burden placed upon you, but a protection extended to you.

“It is one of the smartest investments anyone can make in safeguarding lives, assets, and the future.

“This Scheme is not only good for Lagos; it is good for Nigeria. It demonstrates that compulsory insurance, when supported by strong institutions, effective technology, and stakeholder collaboration, can simultaneously protect citizens, strengthen public confidence, and deepen insurance penetration.”

On the part of the NIA, she added, “For our member companies, this represents an opportunity and a responsibility: an opportunity to extend protection to more Nigerians, and a responsibility to deliver professional service, fair underwriting, and prompt claims settlement.

“As our regulator has consistently reminded us, the greatest asset of our industry is trust. Every policy issued under this Scheme is an opportunity to strengthen that trust. Every claim settled promptly is an opportunity to reinforce public confidence.

“My hope is that what Lagos has begun today will inspire similar initiatives across other states of the Federation. The challenges of fire, flooding, and building collapse are not unique to Lagos. The Nigerian Insurers Association stands ready to work with other state governments to support practical initiatives that improve compliance, strengthen resilience, and expand access to insurance protection.”

She assured that the Association will continue to support its member companies while working closely with government agencies and regulators. “We will promote public awareness of the value of insurance and continue to champion an insurance industry that is professional, trusted, and responsive.

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Speaking at the official lunch of the scheme, Olusegun Ayo Omosehin Commissioner for Insurance/Chief Executive, NAICOM, said the commission will provide the regulatory backing, ensuring that every policy issued under it is underwritten by companies licensed and supervised by the Commission, and by no one else.

The commissioner who was represented  by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon, said “We will support Lagos State in the fight against fake certificates and unlicensed operators, because a compulsory scheme is only as strong as the integrity of the cover behind it.

“The Commission will support and insist upon a scheme architecture that is open, transparent, competitive, and accessible to all insurance operators duly licensed by the National Insurance Commission, Nigeria.

He added that “No compulsory insurance framework of this significance should be structured in a manner that excludes qualified licensed operators, creates undue monopoly, restricts fair market participation, or denies the insuring public the benefit of choice, capacity, innovation, and service competition.

“The role of the regulator is to protect the policyholder, preserve market integrity, and ensure that every eligible operator who meets the Commission’s licensing, solvency, conduct, and claims-payment standards is given a fair opportunity to participate.

“We will treat this Scheme as a national reference point. If it succeeds here, and it must, it becomes the template by which other States across the Federation can protect their own citizens. Lagos, as so often, is lighting the path.

“This is about people. It is about the market trader in Alakija, the family in Lekki, the worshipper, the tenant, the child asleep in a building that its owner did not think to insure.

”The measure of this Scheme will not be the size of the ceremony we hold today. It will be the number of Lagosians who, on the worst day of their lives, discover that they are not alone and that there is cover, and there is recovery.”

He commended  the vision and the courage of Governor Babajide Sanwo-Olu, and the diligence of the Office of the Special Adviser on e-GIS and Urban Development in bringing us to this day.

He reassured that the Commission stands firmly with the Government and people of Lagos State in this historic step for the safety of our people.

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The arrest occurred after information was received that a young man was harassing passers-by and causing panic within the community. Acting promptly on the report, operatives were deployed to the scene, where one Odeshola Afeez, male, aged 22 years, who is suspected to be a notorious cultist, was arrested. A thorough search conducted on the suspect led to the recovery of a locally made pistol, one cartridge and local charms concealed in his possession.

Preliminary investigation revealed that the suspect is a notorious cultist who had allegedly been terrorising residents and engaging in activities capable of disturbing public peace. Further findings indicate that he had been evading arrest before his eventual apprehension by Police operatives.

The Commissioner of Police, Lagos State Command, CP Tijani Fatai, psc, mnips, commends the prompt response and professionalism of the operatives involved in the operation.

He reiterates the Command’s unwavering commitment to combating cultism, armed robbery, and other violent crimes across the State. Residents are encouraged to remain vigilant and continue supporting the Police with credible and timely information through the Command’s emergency lines: 07061019374, 08065154338, 08063299264, 08039344870, and 09168630929.

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Cross section of participants at the event

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The Federal Competition and Consumer Protection Commission (FCCPC) has commended the Lagos State Electricity Regulatory Commission (LASERC) for recent consumer focused reforms aimed at stopping estimated billing within the Lagos electricity market.

The Commission particularly welcomed LASERC’s position in the 2025 Lagos Electricity Market Report supporting the enforcement of existing legal provisions relating to electricity supply without meters, alongside the phased rollout of universal smart metering across Lagos State.

LASERC is pursuing a broad reform programme aimed at strengthening consumer protection and improving electricity market performance in Lagos. The measures include the phased enforcement of compulsory metering from 2026, feeder by feeder deployment of universal smart meters, tighter oversight of distribution companies, improved complaint resolution standards and enforcement action against non-compliant operators.

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, described the initiative as an important step toward improving billing transparency and reinforcing consumer confidence in the electricity sector.

“Estimated billing remains one of the leading sources of consumer complaints within Nigeria’s power sector. Measures that accelerate metering and improve billing transparency are important to consumer protection and overall market accountability,” he said.

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Subair stated this at the Gala night organised to close the 159th meeting of the Joint Revenue Board (JRB) held in Lagos, where tax administrators and revenue stakeholders from across the country gathered for four days to deliberate on ways to strengthen tax systems, improve compliance, and deepen revenue generation nationwide.

According to him, the decision by Tinubu to grant operational autonomy to the Lagos State Internal Revenue Service years ago laid the foundation for the success story that has since become a model for several states in Nigeria.

He said, “This story of taxation in Lagos was started seriously by our present President, Asiwaju Bola Ahmed Tinubu, who deemed it fit to give autonomy to the Lagos State Internal Revenue Service.

“From then on, things changed. Things are still evolving and changing because he handed over the baton to very serious governors thereafter. His model is copied in most of the states in Nigeria. I think the President deserves applause. We are seeing the benefits of that vision that this great Nigerian had, and we all pledge to continue.”

Subair noted that Lagos had sustained the momentum through successive administrations, with visible investments in transportation, urban renewal, and other public infrastructure funded largely through taxes paid by residents.

The LIRS chief also commended Governor Babajide Sanwo-Olu for delivering robust infrastructure development. He noted that in addition to significant investments in education, health, housing, and urban renewal projects, the multimodal transportation system, which includes rail, road, and water transport, is a key part of the current administration’s legacy.

He said, “Governor Sanwo-Olu is doing a great job. This administration is building the multimodal transport system, as witnessed by the JTB members. Apart from the rail, you also have road transport through the BRT, and then we have the ferry service.

“We launched all sorts of projects, and we are soon going to have electric ferries and boats that will move people all over. Also, the Red Line is supposed to be fully in place within one year.

“All this would never have been possible without the good people of Lagos paying their taxes. When you pay your taxes, there is a high level of correlation between the payment of taxes and development.

“In other countries, people pay a lot of taxes, some up to 50 to 60 per cent of their earnings, and it is a way of life for them. In Nigeria, they are trying, but the benefits of paying taxes can only come when everybody plays their own part.”

The LIRS chairman added that voluntary compliance in Lagos had continued to rise because taxpayers could clearly see how their contributions were being utilised.

He said, “In Lagos especially, tax compliance is moving at a much higher pace than that of the rest of the country. That is because people can see where their money is going. You can see the good projects that are coming. You can see the good works of the government of Lagos.”

The 159th meeting of the Joint Revenue Board, formerly known as the Joint Tax Board, ran from April 20 to April 23 in Lagos.

The board comprises the Executive Chairman of the Nigeria Revenue Service, chairmen of the 36 state internal revenue services, and the Federal Capital Territory and representatives of strategic government agencies, including the Federal Ministry of Finance, National Identity Management Commission, Revenue Mobilisation, Allocation and Fiscal Commission, Nigeria Customs Service, Nigeria Immigration Service, and the Federal Road Safety Corps.

The meeting featured various activities, including a session of the Finance and General Purpose Committee, followed by meetings of the Education Committee on the second day. Delegates also took part in an excursion to inspect major infrastructure projects carried out by the Lagos State Government. They rode the Lagos Blue Line Rail from Marina to Mile 2 and visited the iconic Eko Atlantic City.

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