Lagos State signs power agreement
Analysis based on 7 articles · First reported Apr 26, 2026 · Last updated Apr 27, 2026
The Power Purchase Agreement is expected to significantly improve electricity supply in Lagos State, which could lead to increased economic activity and investor confidence in the region's energy sector. This development is positive for companies involved in power generation and infrastructure development in Nigeria.
The Nigeria — Government of Lagos State has signed a Power Purchase Agreement (PPA) with Mainland Power Limited, Akute Independent Power Plant, and Fenchurch Power Limited. This agreement aims to boost electricity generation capacity from a combined 60MW to between 200MW and 400MW within two to three years, without additional financial strain on the state. Governor Babajide Sanwo-Olu emphasized the people-focused nature of the initiative, which seeks to improve quality of life through reliable power. The agreement also involves the rehabilitation of the previously dormant Akute Independent Power Plant, now managed by Fenchurch Power Limited, and continued operations by E&R Engineering for the Island corridor. This move is seen as a significant step in energy sector reforms and infrastructure development in Lagos State, attracting further investment.
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