Governor Babajide Sanwo-Olu has inaugurated the board of the Lagos State Electricity Regulatory Commission (LASERC), marking a step toward strengthening electricity sector governance and improving power supply in the state.
The inauguration took place on Monday at Lagos House, Ikeja, according to the News Agency of Nigeria (NAN).
The move forms part of Lagos State’s efforts to build a sustainable and investor-friendly electricity market following the enactment of the Lagos Electricity Law in alignment with the Electricity Act 2023.
Governor Sanwo-Olu said the inauguration represents a significant milestone in Lagos State’s plan to create a reliable electricity market capable of supporting economic growth and improving power access for residents and businesses.
He noted that the establishment of the commission followed the passage of the Lagos Electricity Law by the Lagos State House of Assembly, which provides the legal framework for regulating electricity activities within the state.
“Gov. Babajide Sanwo-Olu of Lagos State, on Monday, inaugurated the board of the Lagos State Electricity Regulatory Commission at Lagos House Ikeja,” the NAN report read in part.
It added, “The governor said the inauguration marked a crucial step in the state’s efforts to build a sustainable energy future and create a more reliable electricity market for residents and businesses.”
Sanwo-Olu said the law was designed to create an independent, transparent, and investor-friendly electricity market, while establishing a state electricity fund to support underserved and unserved communities. He added that the regulatory commission would oversee electricity activities across the state and promote collaboration among stakeholders.
