Governor Babajide Sanwo-Olu has tasked the newly inaugurated board of the Lagos State Electricity Regulatory Commission (LASERC) to work collaboratively toward achieving uninterrupted electricity supply across Lagos State.
The governor gave the charge during the official inauguration of the commission’s board at the Banquet Hall of Lagos House in Ikeja, stressing that reliable electricity remains critical to economic growth and the wellbeing of residents.
Sanwo-Olu said the establishment of the commission and the inauguration of its board represent another milestone in Lagos’ effort to build a sustainable and investor-friendly electricity market capable of delivering reliable power to homes, businesses and public infrastructure.
He urged members of the board, led by Chairman Alexander Ogunbiyi, to view their appointment as an opportunity to drive meaningful reforms that will strengthen the electricity sector and attract investment into the state’s energy market.
According to the governor, the board must operate with unity and a strong sense of responsibility to ensure that Lagos becomes a model for electricity regulation across Nigeria.
Sanwo-Olu noted that the inauguration followed the passage of the Lagos electricity law by the Lagos State House of Assembly, which aligns with national electricity reform policies and empowers the state to regulate its electricity market.
He explained that the law provides the legal framework for creating a transparent, competitive and investor-friendly regulatory environment that will support improved electricity generation, distribution and supply.
The governor emphasized that regulation should not hinder growth but rather promote innovation, partnerships and investment within the sector.
“There is no other way than to create an environment where, when residents switch on their power, electricity comes on without interruption. That is the expectation of our people and we must deliver,” he said.
Sanwo-Olu added that the state government would closely monitor the activities of the commission to ensure that the objectives of the electricity reform are achieved.
He noted that stable electricity supply is essential for small businesses, industries and large corporations, stressing that persistent energy challenges continue to affect productivity and increase operational costs.
The governor also highlighted ongoing efforts by the state government to improve energy infrastructure, including the installation of thousands of streetlights across Lagos to enhance safety, support economic activities and boost public confidence.
According to him, the state is working toward building a 24-hour economy powered by stable electricity supply and modern energy infrastructure.
Sanwo-Olu further revealed that investors have already begun showing interest in the Lagos electricity market, noting that the new regulatory framework must encourage wider participation while protecting consumers.
Speaking at the event, the Commissioner for Energy and Mineral Resources, Biodun Ogunleye, described the inauguration as a major milestone in the implementation of the state’s electricity law.
Ogunleye said the commission would provide the institutional framework required to regulate a dynamic electricity market while ensuring transparency, efficiency and investor confidence.
He explained that LASERC would be responsible for licensing electricity operators, monitoring market activities, protecting consumers and overseeing governance of electricity operations within the state.
According to him, these responsibilities are crucial to building a reliable power sector capable of supporting economic development and improving residents’ quality of life.
The commissioner commended Sanwo-Olu for his leadership in driving energy sector reforms and positioning Lagos at the forefront of sub-national electricity regulation in Nigeria.
He added that members of the board were selected based on their experience, integrity and professional competence across fields including finance, law, engineering and energy management.
Responding on behalf of the board, Chairman Alexander Ogunbiyi expressed appreciation to the governor for the confidence reposed in the members.
He assured that the board would carry out its duties diligently, transparently and in accordance with the legal framework guiding the commission.
Ogunbiyi pledged that LASERC would collaborate with stakeholders across the electricity value chain to create a stable, efficient and investor-friendly market capable of supporting industrial growth and improving the lives of Lagos residents.
