Governor of Lagos State Babajide Sanwo-Olu has approved the establishment of the leadership of Lagos Electricity Regulatory Commission (LASERC).
The governor gave the approval on Monday following the transfer of regulatory oversight to the State by the Nigerian Electricity Regulatory Commission (NERC), as per a report by Arise TV.
The governor also appointed key leaders to head the commission, a move he said will reform the energy sector of the State.
Sanwo-Olu stated that the commission is responsible for overseeing and regulating electricity market operations within the state.
“The constitution of LASERC is a crucial step in ensuring that Lagos continues to lead the way in energy innovation, sustainability, and reliability,” he said.
Reports from The Nation indicate that the appointments of key leaders are pending confirmation by the Lagos State House of Assembly before they can take effect.
Leadership appointments for the Lagos electricity regulatory commission
- Engr. Abimbola Odubiyi: Chairing the commission as a non-executive, on a part-time basis.
- Dr. Fouad Animashaun: Serving as the Pioneer Executive Member/CEO of the commission.
- Mrs. Kofo Olokun-Olawoyin: Overseeing regulatory compliance, legal advisory, and the registration and licensing processes critical to the smooth operation of Lagos State’s electricity market.
- Oluwaseun Fadare: Executive Commissioner (Engineering and Standards), leveraging extensive expertise in engineering and power plant management to ensure efficient operations and maintenance across the electricity value chain.
Engr. Odubiyi, a former pioneer commissioner with the Nigerian Electricity Regulatory Commission, has extensive experience in projects involving gas and coal power stations, as well as electricity tariff design.
Reacting to his appointment as the chairrman, he said:
“I am honored to be part of this transformative initiative for Lagos, and I look forward to collaborating with the team to further develop the state’s energy landscape.”
Earlier this month, Energy in Africa reported that the Nigerian Electricity Regulatory Commission (NERC) formally handed over regulatory oversight of Lagos State’s electricity market to the Lagos State Electricity Regulatory Commission (LASERC). This transition aligns with the amended Constitution of the Federal Republic of Nigeria and the provisions of the Electricity Act 2023.
The move is anticipated to boost efficiency and foster innovation within Lagos State’s electricity market, potentially serving as a model for other states to follow.
