Governor Babajide Sanwo-Olu has signed the Lagos State Electricity Law 2024, marking a major step toward reforming and strengthening the state’s power sector.
The law is designed to align Lagos’ electricity regulatory framework with the provisions of the Electricity Act 2023 and the amended Constitution of the Federal Republic of Nigeria, which grant states greater authority to regulate electricity within their territories.
Following the signing ceremony on Monday at Lagos House in Ikeja, the governor also inaugurated the Lagos State Electricity Regulatory Commission (LASERC), a new body responsible for regulating and supervising the electricity market within the state.
The commission is expected to ensure reliable, affordable, and efficient power supply for residents and businesses across Lagos.
The newly inaugurated board of LASERC includes Temitope George as Chief Executive Officer, Akinwunmi Ogunbiyi as Chairman, Bello Wasiu Oladimeji as Non-Executive Member, Adekunle Olapade as Executive Member in charge of Engineering and Standards, and Kunle Falola as Executive Member responsible for Licensing and Compliance.
According to the state government, LASERC will regulate and license electricity service providers operating in Lagos, enforce compliance with industry standards, and monitor the quality of services delivered to consumers.
The commission will also be responsible for setting fair electricity tariffs that balance consumer affordability with operational sustainability for service providers. In addition, it will address consumer complaints and prevent unfair or exploitative practices within the electricity market.
Beyond regulation, the agency is expected to promote the growth and modernization of Lagos’ power sector by encouraging competition, supporting renewable energy initiatives, and improving energy efficiency and grid development.
Governor Sanwo-Olu said the establishment of LASERC represents a significant milestone in the state’s efforts to improve electricity supply.
He noted that the commission would strengthen service delivery, encourage innovation within the power sector, and protect the interests of electricity consumers across Lagos State.
Comments