Sanwo-Olu Launches Lagos Electricity Regulatory Board

On October 24, 2023, Governor Babajide Sanwo-Olu inaugurated a five-member board for the Lagos Electricity Regulatory Commission (LASERC), marking a significant step in operationalizing the Lagos State Electricity Law. The board, chaired by Alex Akinwunmi Ogunbiyi, an energy finance expert with three decades of leadership experience, is tasked with enhancing the regulatory framework to foster a reliable and independent electricity market in Lagos.

Other board members include Temitop Georg, Abiodun Ogunley, Bello Wasiu Oladimeji, and Adekunl Olopad. The establishment of LASERC follows the enactment of the Lagos State Electricity Law 2024, which aligns with the Federal Electricity Act 2023.

The board's mandate includes ensuring transparency, attracting investment, and improving the electricity ecosystem for Lagosians. Governor Sanwo-Olu emphasized the importance of collaboration and innovation in the sector to reduce consumer costs and enhance service delivery.