Lagos formalizes three power purchase agreements to expand embedded electricity generation
via Punch Nigeria4 min read
The Lagos State Government has formalized three Power Purchase Agreements with Independent Power Producers: Fenchurch Power, Mainland Power, and Viathan Engineering Limited. These agreements aim to expand embedded electricity generation and improve power supply to critical state infrastructure. The Commissioner for Energy and Mineral Resources, Biodun Ogunleye, stated that these agreements represent a restructuring of Lagos’ embedded power system. Fenchurch Power will support major water facilities in Adiyan and Iju, Mainland Power will continue serving Ikeja, Oshodi, and Anthony with plans for expansion, and Viathan Engineering Limited will maintain stable power supply to key facilities on Lagos Island. The new framework eliminates legacy payment structures like "take or pay" and "deemed energy," ensuring payments are tied to metered supplies and actual delivery. Governor Babajide Sanwo-Olu emphasized that these revised contracts reflect a stronger focus on accountability and efficiency in public spending, aiming to provide more reliable power for public infrastructure and better use of state resources. The state expects a significant increase in generation capacity from less than 60MW to over 200-400MW within two to three years. These reforms are part of a broader strategy to decentralize power generation, improve reliability, and ensure long-term sustainability of electricity supply across critical public assets.
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Trucks Transit Parks Limited, manager of the electronic call-up system, stated that efficient truck management significantly aids environmental protection and enhances working conditions for dockworkers. The company emphasized that reducing traffic congestion around Nigeria’s seaports is vital for sustainable shipping operations. This assertion was made in Lagos last week at the 2026 Dockworkers’ Day celebration, organized by the Shipping Correspondents Association of Nigeria. Speaking on the theme “Green Ports: Sustainable Practices for Dockworkers,” Mr. Jama Onwubuariri, Co-founder of TTP, highlighted the electronic call-up system's role in promoting orderliness and sustainability along the Apapa and Tin Can port corridors. Onwubuariri, represented by Nancy Nnamdi, General Manager, Corporate and Strategic Communications at TTP, noted that the theme aligns with the company’s commitment to sustainable port operations. He added that sustainability is integral to the systems and processes deployed by the company to improve efficiency within the port ecosystem.
The Capital Market Solicitors Association CMSA announced its 2026 Annual Business Summit, themed "Structural Resilience and Market Permanence," will focus on strengthening Nigeria’s capital market, deepening investor confidence, and promoting sustainable growth. Scheduled for July 1, 2026, in Lagos, the summit aims to explore how Nigeria can sustain capital market growth through institutional reforms, regulatory efficiency, technological innovation, and stronger investor protection mechanisms. Simisola Eyisanmi, Chairman of the CMSA, explained that discussions will cover institutional governance, capital adequacy, market trading procedures, regulatory reforms, technological integration, sustainable financing, and long-term strategies. She clarified the distinction between the capital market, a broad ecosystem, and the stock exchange, a platform for trading securities. Eyisanmi emphasized that both are regulated by the Securities and Exchange Commission SEC and urged Nigerians to ensure financial institutions are licensed. She also highlighted the well-defined dispute resolution process for investors, starting with the SEC and potentially escalating to the Investments and Securities Tribunal IST. The IST has been invited to participate in the summit to raise awareness of its role. For small and medium-sized enterprises, Eyisanmi pointed to opportunities like the Growth Board of Nigerian Exchange Limited and the NASD Over-the-Counter Securities Exchange. Mohammed Abubakar SAN,
Must ReadAs the 2026 FIFA World Cup commences in North America, many Nigerians are experiencing disappointment due to the Super Eagles' absence from the tournament for the second consecutive time. Despite the World Cup's expansion to 48 teams and increased qualification slots for Africa, Nigeria failed to secure a spot. This has led to frustration among fans like Soyemi Tosin, a Nigerian living in the UK, who had saved money to watch the Super Eagles play in person, and Precious Ogbolu, a Nigerian resident in Canada, who had hoped to see the team play in his host city. The absence also impacts content creators and influencers, who face significant financial losses from missed sponsorship and engagement opportunities. Nigeria's failure to qualify stems from an inconsistent campaign in a group many considered favorable, marked by multiple coaching changes and a heartbreaking elimination in the continental play-offs. Critics, including former Super Eagles captain John Obi Mikel and midfielder Sunday Oliseh, attribute these issues to structural problems and mismanagement within the Nigerian Football Federation. Social media reflects a mix of grief, frustration, and anger, with many questioning how a country with such talent could miss out while 10 other African nations qualified. The economic impact is also felt by businesses like viewing centers, bars, and hotels that typically benefit from increased patronage during major tournaments. Despite the widespread disappointment, some hope rem