The Lagos State House of Assembly has thrown its weight behind the establishment of the Ibile Energy Corporation, a state-owned company designed to spearhead investments in oil, gas, renewable energy, and other power-related sectors.
Speaker of the Assembly, Chief Mudashiru Obasa, represented by Deputy Speaker Mrs. Mojisola Meranda, disclosed this during a public hearing on the Ibile Energy Corporation Bill held at the Assembly complex in Alausa, Ikeja.
Obasa said the initiative was critical to meeting Lagos State’s rising energy demand while reducing dependence on conventional sources.
He added that, apart from boosting oil and gas output, the corporation would also accelerate the adoption of cleaner energy options, including electric vehicle solutions, which would help cut emissions and improve air quality.
Commissioner for Energy, Mr. Abiodun Ogunleye, explained that the bill would make Ibile Energy competitive, innovative, and environmentally responsible.
According to him, the corporation is positioned to transform Lagos into a hub for sustainable energy solutions and attract significant investments into the state’s power sector.
The Assembly assured stakeholders that the bill would receive the necessary legislative support to ensure its swift passage and implementation.
Writing by Ngozi Okpala