Sanwo-Olu Launches Lagos Electricity Regulatory Board

On Wednesday, Lagos State Governor Babajide Sanwo-Olu inaugurated a five-member board for the Lagos State Electricity Regulatory Commission (LASERC). This initiative aims to operationalize and strengthen the institutional framework required for effective regulation of the electricity market in Lagos State.

The governor's move marks a significant milestone in the state's journey towards establishing a modern, reliable, and independent electricity market. He approved the appointment of Mr. Alex Akinwunmi Ogunbiyi, an energy finance expert with three decades of leadership experience, as the chairman of the board in a non-executive capacity.

Additionally, Mr. Temitop George, a seasoned legal regulatory governance executive, was appointed as the chief executive officer (CEO) of LASERC. This strategic move is expected to accelerate Lagos's gradual transition phase and build the institutional backbone necessary to transform the electricity market.

The board is anticipated to play a pivotal role in strengthening transparency and ensuring fair regulatory certainty to boost investor confidence in Lagos's electricity ecosystem.