Sanwo-Olu signs Lagos Electricity Law, inaugurates state regulatory commission
Lagos State Governor Signs Electricity Law, Inaugurates Regulatory Commission
LAGOS – Governor Babajide Sanwo-Olu of Lagos State signed the Lagos State Electricity Law 2024 into effect on Monday, aligning the state’s electricity framework with the Electricity Act 2023 and updates to the Nigerian Constitution.
The signing ceremony took place at Lagos House in Ikeja, where the governor also inaugurated the Lagos State Electricity Regulatory Commission (LASERC). The newly established body will regulate and oversee the electricity market within the state, aiming to provide a reliable, cost-effective power supply for residents and businesses.
The commission’s board features Temitope George as Chief Executive Officer, Akinwunmi Ogunbiyi as Chairman, and Bello Wasiu Oladimeji as a Non-Executive Member. Adekunle Olapade will serve as an Executive Member in charge of Engineering and Standards, while Kunle Falola will focus on Licensing and Compliance.
According to government officials, LASERC will oversee the regulation and licensing of electricity service providers in Lagos. The commission is responsible for ensuring compliance with industry standards and monitoring the quality of services offered to consumers.
Additionally, LASERC will develop equitable electricity tariffs that promote affordability for consumers while ensuring sustainability for providers. The body will also manage consumer complaints and address any unfair practices within the electricity market.
Furthermore, the commission aims to foster growth and modernization within Lagos’s power sector by promoting competition, supporting renewable energy initiatives, and enhancing energy efficiency and grid development.
Governor Sanwo-Olu emphasized that the establishment of LASERC is a crucial move toward improving electricity supply in the state. He stated that the commission would bolster service delivery, stimulate innovation in the power sector, and protect the interests of consumers throughout Lagos.
