Lagos State Governor, Mr. Babajide Sanwo-Olu, has officially inaugurated members of the Lagos State Electricity Regulatory Commission (LASERC), a historic move aimed at deepening the state’s autonomy in managing its electricity market and improving power supply across the state.
The inauguration, which took place at the Lagos House in Ikeja, is a major milestone following the enactment of the Lagos State Electricity Law 2024 and the formal handover of regulatory control from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State Government.
The newly inaugurated LASERC team includes:
Engr. Abimbola Odubiyi – Chairman/Non-Executive Member
Mr. Tunde Gbajumo – Non-Executive Member
Dr. Fouad Animasahun – Executive Member/Chief Executive Officer
Barr. Kofoworola Olokun-Olawoyin – Executive Member
Engr. Oluwaseun Fadare – Executive Member
Speaking at the event, Governor Sanwo-Olu emphasized that the creation of LASERC is a pivotal step in Lagos’ journey to achieve electricity self-sufficiency. He noted that the Commission is expected to regulate and license electricity providers operating within the state, ensure fair tariff systems, and expand access to underserved areas.
“This Commission is a critical tool in our hands as we work to deliver affordable, reliable, and sustainable electricity to Lagosians,” Sanwo-Olu said. “LASERC will also be instrumental in overseeing the performance of distribution companies, promoting renewable energy, and addressing issues such as energy theft and technical inefficiencies.”
He also announced plans to restructure the operations of the Eko and Ikeja Electricity Distribution Companies, allowing them to establish subsidiaries that would operate under LASERC’s regulation, thereby boosting service delivery and accountability.
The Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, noted that the establishment of LASERC aligns with the THEMES+ agenda of the current administration, particularly its focus on energy security and economic resilience.
Ogunleye further disclosed that the state’s ongoing reforms are intended to transform Lagos into a 24-hour economy, powered by a more responsive and efficient electricity framework.
The LASERC Chairman, Engr. Abimbola Odubiyi, assured residents of the Commission’s readiness to enforce strict standards and provide a regulatory environment that supports investment and innovation in the power sector.
With this development, Lagos State has joined a select group of sub-nationals globally taking control of their electricity markets to better serve their local populations. The inauguration of LASERC is expected to usher in a new era of improved service delivery, better consumer protection, and enhanced energy access in Africa’s most populous city.
