Nigeria: $50m Elektron's Plant to Improve Power in Lagos

8 September 2026
This Day (Lagos)
By Peter Uzoho

Elektron Energy is progressing its $50 million power project to improve commercial electricity supply in Lagos with the Victoria Island Power (VIPL) project, a 40 megawatts embedded plant scheduled for completion in the first quarter of 2027.

The company unveiled details of the project during a VIPL Customer Experience Day in Lagos, where business leaders got a first look at the infrastructure designed to deliver dedicated power to Victoria Island.

Speaking at the session, Executive Director, Business Development, Elektron Energy, Mr. Ayomide Oladapo, said the plant addresses years of power constraints in the area.

"For years, businesses in Victoria Island have had to operate within the constraints of unreliable power, either absorbing the cost and complexity of self-generation or navigating the uncertainty of the grid. Neither model provides the predictability businesses need to plan, invest and grow with confidence."

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