The Lagos State Government has officially taken control of the state’s electricity market, following the official transfer of regulatory power from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State Electricity Regulatory Commission (LASERC).
The shift is in alignment with the Electricity Act 2023 and recent constitutional amendments that empower states to regulate their respective intrastate electricity markets.
This development enhances Lagos State’s ability to make and implement electricity policies to meet local demands, improve service delivery, and attract private sector investments for infrastructure and technological innovations.
The move is aimed at dispersal of electricity distribution and enabling efficient, and customer-focused services.
“These subsidiaries must be incorporated within 60 days from December 5, 2024, and must obtain operational licenses from LASERC,”
The transition to state-level regulation is expected to bring several benefits, including improved service delivery, faster response times to outages, and enhanced accountability.
It also opens the door for increased private sector participation, as LASERC will have the authority to issue licenses and oversee operations within the state
“The full transition, including all regulatory and operational adjustments, is mandated to be completed by June 4, 2025.’
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