Governor Babajide Sanwo-Olu has signed a Power Purchase Agreement (PPA) with three electricity-generating companies as part of efforts to improve power supply across Lagos State. In a statement posted on his official X handle on Sunday, Sanwo-Olu disclosed that the firms include Mainland Power Limited, Akute Independent Power Plant and……
Governor Babajide Sanwo-Olu has signed a Power Purchase Agreement (PPA) with three electricity-generating companies as part of efforts to improve power supply across Lagos State.
In a statement posted on his official X handle on Sunday, Sanwo-Olu disclosed that the firms include Mainland Power Limited, Akute Independent Power Plant and Fenchurch Power Limited, with the latter joining as a new partner.
Sanwo-Olu also disclosed that the signing took place at the Lagos House in Marina.
The statement reads, “Today at Lagos House, Marina, I witnessed the signing of three power purchase agreements designed to build on existing capacity and address what has not been working.”
Sanwo-Olu revealed that the Fenchurch Power will support the major water facilities in Adiyan and Iju, and Mainland Power will continue serving Ikeja, Oshodi, and Anthony, with room for expansion.
He also disclosed that Viathan will maintain a stable power supply to key facilities on the Island and the state will strengthen its integration with the distribution network.
He said, “We have updated these agreements to reflect current market realities. We will no longer pay for power that is not delivered. Payments are now tied to actual, metered supply, helping us reduce waste and manage costs more effectively.”
The Governor stated that the agreement will enable more reliable power for public infrastructure, better use of state resources, and a clear path to scale capacity over the next few years.