The Chairman, Committee on Energy, Mineral Resources and Waterfront Infrastructure, Lagos House of Assembly, Hon. Lanre Ogunyemi, has disclosed that the State would soon begin to explore for oil following the large deposits of the mineral resource in Badagry, Ibeju-Lekki and Epe areas.
He said: “The Folawiyo Group is partnering with the Ministry of Energy in the state and very soon, Lagos would join oil producing states. Exploration trends will follow the industry’s perception of the next best resource base to explore and develop, which incorporates both the scale and quality of the resource and the cost of its development.
“Through exploration, acquisitions, strategic partnerships and technological expertise, Lagos State is in pursuit of the growth strategy. Natural gas is a future-oriented resource in global energy supplies and there are sufficient supplies of this climate-friendly, cost-effective, and safe fuel.
“Competition for natural resources has driven companies to explore and produce in harsh, remote and even hostile locations, where even the simplest of logistical tasks can be difficult and costly.”
Justifying the rationale for the creation of the Ministry of Energy, Power and Mineral Resources, Ogunyemi said, “We have power plants like Alausa Power Plant, which supplies electricity to Alausa Secretariat and some parts of Obafemi Awolowo Way, and it is good for the health of the people since we have eliminated generators in these areas.
“We will soon launch the Maryland Power Plant to power government offices and other MDAs, we have Lagos Island Power Plant too,” he added.