Amanze Chinonye
Governor Babajide Sanwo‑Olu on Monday, inaugurated the five-member Board of the Lagos State Electricity Regulatory Commission (LASERC), marking a major milestone in implementing the Lagos State Electricity Law 2024 and strengthening the regulatory framework for the state’s electricity market.
The inauguration, held at Lagos House, Ikeja, positions the new commission to oversee licensing, tariff regulation, market compliance, and consumer protection for electricity providers in Lagos. The initiative is aimed at enhancing transparency, improving service delivery, and attracting private sector investment.
Governor Sanwo‑Olu described the inauguration as a decisive step toward creating a modern, independent, and investor-friendly electricity market. He emphasized that the commission should work collaboratively with electricity operators and other stakeholders to drive reforms, improve reliability, and ensure value for consumers. “Our goal is to build a transparent and efficient electricity market that supports Lagos’ 24-hour economy,” he said.
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Board Leadership
- Mr. Alexander Akinwunmi Ogunbiyi – appointed Chairman in a non-executive capacity; Ogunbiyi brings extensive experience in energy financing and leadership.
- Mrs. Temitope George – appointed Chief Executive Officer, with a background in legal, regulatory, and governance matters.
- Mr. Bello Wasiu Oladimeji (Non-Executive) – experienced in electricity distribution operations, customer management, and revenue assurance.
- Engr. Adekunle Olapade (Executive Member) – specialist in power systems, telecommunications, and project management.
- Mr. Olakunle Falola (Executive Member) – former CEO of Marine Power Group with expertise in licensing, compliance, and power infrastructure.
Mandate and Objectives
LASERC is empowered under the Lagos State Electricity Law 2024, aligned with the Federal Electricity Act 2023, to regulate electricity providers and foster a competitive market in Lagos.
The law also establishes mechanisms to improve electricity access in underserved communities, including through the State Electrification Fund.
Commissioner for Energy and Mineral Resources, Mr. Abiodun Ogunleye, noted that the board would be responsible for regulatory oversight, licensing, consumer protection, and market governance, essential for building a reliable and efficient power sector capable of supporting Lagos’ economic ambitions.
Chairman Ogunbiyi assured that the board would carry out its mandate with accountability and collaboration, working closely with operators to meet residents’ expectations while creating a transparent and stable regulatory environment.
The inauguration represents a transition from legislation to institutional implementation, positioning Lagos as a pioneer in state-led electricity reforms and offering a model for other states seeking to modernize their electricity sectors.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
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