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Sanwo-Olu Introduces Law to Regulate Electricity Production and distribution in Lagos

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Lagos State Governor, Babajide Sanwo-Olu, on Tuesday signed the Lagos State Electricity Bill 2024 into law. The law is aimed at teansforming electricity production and distribution in Lagos State, especially the Independent Power Plants (IPP).

The event held at Lagos House, Alausa, Ikeja, was attended by key officials including Deputy Governor Dr. Femi Hamzat, Chairman of the Lagos State House Committee on Energy and Mineral Resources Sabur Oluwa, Attorney General and Commissioner for Justice Pedro Lawal, Commissioner for Energy and Mineral Resources Biodun Ogunleye, and Commissioner for Information and Strategy Gbenga Omotoso.

Sanwo-Olu, said that the Lagos State Electricity Law 2024 aims to: Establish a technically sound, financially viable, and well-regulated Lagos Electricity Market.

Ensure access to affordable, reliable, and sustainable electricity for all residents. Promote diverse energy sources, including renewable energy, and encourage energy efficiency.

Foster investment, competition, and innovation in the electricity sector. Extend electricity access to underserved areas to support sustainabledevelopment.

Commissioner for Energy and Mineral Resources Biodun Ogunleye announced that the law’s implementation will begin within six months, pending final approval from the Federal Government .

The law creates several regulatory bodies to manage the electricity market: Lagos State Electricity Regulatory Commission (LASERC): Ensures compliance and oversees licensing. Lagos Independent System Operator (ISO): Responsible for maintaining system reliability and operational efficiency.

Lagos State Electrification Agency: Tasked with expanding electricity access to underserved communities.

Electrification Funds: Allocated for financing electrification projects and sustainable energy solutions in underserved areas.

Community Trust Fund: Requires power generating companies to allocate a percentage of their previous year’s operating expenditure to host community development.

Power Enforcement Unit: Charged with addressing electricity theft and infrastructure damage.

The Lagos State Electricity Law 2024 represents Governor Sanwo-Olu’s commitment to resolving long standing energy challenges, laying the foundation for economic growth, industrial development, improved quality of life, and environmental sustainability.

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BREAKING: Another Newswatch Magazine Co-Founder Passes Away – Yakubu Mohammed Dies at 75

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In a somber development for Nigeria’s journalism community, Yakubu Mohammed, a co-founder of the iconic Newswatch magazine and its former deputy chief executive officer, has died at the age of 75.

Mohammed’s passing, announced recently, follows closely on the heels of the death of his longtime colleague and fellow co-founder, Dan Agbese, who succumbed to a prolonged illness on November 17, 2025, at age 81.

This marks yet another significant loss among the pioneering generation that launched Newswatch in 1984, revolutionizing investigative journalism in Nigeria.

Alongside Dan Agbese, Ray Ekpu, and the late Dele Giwa (who was tragically assassinated via a parcel bomb in 1986), Mohammed helped establish Newswatch as a trailblazing weekly newsmagazine known for its bold, fearless reporting and commitment to truth during a turbulent era in Nigerian history.

Reports indicate that Mohammed had been battling an undisclosed ailment before his death. Just months prior, in October 2025, he released his memoir, Beyond Expectations, which provides deep insights into the magazine’s founding, its challenges, and its enduring impact on Nigerian media.

The deaths of Agbese and now Mohammed represent profound blows to the legacy of Newswatch, which set new standards for ethical, investigative, and interpretative journalism in the country.

Tributes are expected to pour in from media practitioners, political leaders, and the public as the nation mourns another pillar of its press freedom movement. May his soul rest in perfect peace.

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U.S. delivers ‘critical military assets’ to battle terrorists, bandits

Nigeria’s Chief of Air Staff, Air Marshal Sunday Aneke, visited the U.S. to quicken the process for the supply of 12 AH-1Z fighter jets by Bell Textron of California.AH-1Z, a modern attack helicopter, is equipped with advanced sensors and precision-guided weapons with night-fighting capabilities.

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The US Africa Command (AFRICOM), has confirmed the delivery of critical military supplies to Nigeria to support the ongoing security operations against terrorists and other non-state actors.

“This delivery supports Nigeria’s ongoing operations and emphasises our shared security partnership,” said AFRICOM on its official X account yesterday.

AFRICOM, however, did not name the “critical military” tools.

Nigeria’s Chief of Air Staff, Air Marshal Sunday Aneke, visited the U.S. to quicken the process for the supply of 12 AH-1Z fighter jets by Bell Textron of California.AH-1Z, a modern attack helicopter, is equipped with advanced sensors and precision-guided weapons with night-fighting capabilities.

The supply of the critical military tools came after Washington launched deadly strikes on terrorists in the Northwest on December 24.

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World Bank projects Nigeria’s urban population to reach 264m by 2050

According to the report entitled ‘Multi-sector analytical review and pathway to transformation’, Nigeria’s urban population has grown exponentially over the last 65 years – from just under seven million in 1960 to over 128 million in 2024, with nearly half the urban population living in slums.

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The World Bank says that people living in Nigerian cities will over the next 25 years reach 264 million from the current 140.3 million people.

The Bank made the projection in its Global Economic Prospects report, released yesterday, also forecasts that the Nigerian economy will grow by 4.4 percent in 2026 and maintain that pace in 2027.

In the report, Nigeria is expected to be the third most populous country in the world, after China and India

According to the report entitled ‘Multi-sector analytical review and pathway to transformation’, Nigeria’s urban population has grown exponentially over the last 65 years – from just under seven million in 1960 to over 128 million in 2024, with nearly half the urban population living in slums.

It is projected that 70 percent of the population will live in urban areas by 2050, with cities at the centre of the country’s economic future.

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