By Ayomide Otitoju
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday inaugurated the five-member Board of the Lagos State Electricity Regulatory Commission (LASERC), marking a major step in operationalising the Lagos State Electricity Law and building an independent, investor-friendly electricity market.
The Governor appointed Mr. Alexander Akinwunmi Ogunbiyi, an energy financing expert with over 30 years of experience, as Board Chairman in a non-executive capacity, while Mrs. Temitope George, a seasoned legal and governance professional, was named LASERC Chief Executive Officer.
Speaking during the swearing-in, Sanwo-Olu said the Board would provide leadership and direction to the Lagos electricity sector, strengthen transparency, regulatory certainty, and investor confidence, and accelerate the unbundling of power distribution.
“The LASERC Board now has the opportunity to collaborate with stakeholders and deliver purposeful regulatory reforms that benefit Lagosians,” he said, noting that the Board’s mandate follows the Lagos State Electricity Law 2024, aligned with the Federal Electricity Act 2023.
Sanwo-Olu emphasized that LASERC was established to support market growth, reduce consumer costs, attract investment, and deploy advanced technology for sector efficiency.
Commissioner for Energy and Mineral Resources, Mr. Abiodun Ogunleye, explained that LASERC would oversee licensing, tariff regulation, consumer protection, and market monitoring—key to building a reliable and efficient power sector capable of supporting Lagos’ economic ambitions.
Chairman Ogunbiyi pledged loyalty and accountability, promising that the Board would work collaboratively with operators to meet the expectations of Lagosians.
Other Board members include Mr. Bello Wasiu Oladimeji (Non-Executive), Engr. Adekunle Olopade (Executive Member), and Mr. Olakunle Falola (Executive Member in charge of Licensing and Compliance), all bringing extensive experience in power systems, electricity distribution, project management, and compliance.
The inauguration signals Lagos’ transition from legislative framework to a fully functional regulatory system aimed at transforming the state’s electricity market.
