Sanwo-Olu Inaugurates LASERC Board to Boost Lagos Power Sector
Babajide Sanwo-Olu, the Governor of Lagos State, yesterday officially inaugurated the board of the Lagos State Electricity Regulatory Commission (LASERC), calling it a major step toward improving electricity supply and attracting investment to the state’s power industry.
The ceremony, held at Lagos House, saw the governor urging board members to work collaboratively to strengthen the state’s power infrastructure while fostering a transparent and investor-friendly electricity market.
“This inauguration reflects our commitment to building a sustainable energy system, ensuring that homes and businesses have more reliable electricity,” Sanwo-Olu said.
The governor acknowledged that a previous attempt to establish the board about a year ago was unsuccessful due to internal challenges and national commitments of prospective members. Nevertheless, he expressed confidence that the newly appointed team would drive meaningful reforms in Lagos’ electricity sector.
Sanwo-Olu noted that LASERC’s creation followed the passage of the Lagos Electricity Law by the State House of Assembly, in line with the federal Electricity Act 2023. He described the law as a framework for establishing a transparent and investor-friendly electricity market in the state.
The legislation also established a state electricity fund to expand power access to underserved communities and granted the commission authority to regulate electricity operations across Lagos.
“The Commission’s role goes beyond regulation; it must encourage collaboration among stakeholders and maintain an environment that attracts investors,” the governor said, emphasizing that these measures aim to improve electricity supply for residents and businesses statewide.
Highlighting the government’s ongoing investment in public lighting and energy infrastructure, Sanwo-Olu added: “Providing electricity to as many streets as possible supports a 24-hour economy and reassures residents that their communities are safe and well lit.”
He further urged LASERC to position Lagos as a national benchmark for electricity market reforms, reflecting the state’s ambition to lead in power sector innovation and investment across Nigeria.
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