The Lagos State Government, on Thursday, said it was in full support of the Federal Government’s attempt at full liberalisation and deregulation of the power sector.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, said power was needed to drive and sustain economic growth in the country.
Speaking at a one-day symposium organised by the Lagos State Cooperative College, with the theme: “Venturing into Power Sector: The Electric Cooperative Model,” held in the Agege area of Lagos, Ambrose-Medebem said, “Power is needed to drive and sustain economic growth and as such, the current attempt at full liberalisation and deregulation of the power sector is highly welcomed.”
The commissioner, who was represented by the Director, of Cooperative Services, Zulikat Ibrahim, noted that in developed climes, power supply was accorded so much priority with commensurate multi-sectoral investments in cost-effective power solutions to guarantee stability in supply for productive purposes.
She said she believed it was safe to infer that the extant regulatory framework in the power sector could prove to be a major game-changer going forward if only the nation could begin to seize the available opportunities in making the right business and investment decisions.
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