Governor Babajide Sanwo-Olu has charged the newly inaugurated board of the Lagos State Electricity Regulatory Commission (LASERC) to collaborate towards ensuring uninterrupted electricity supply across the state, saying improved power delivery is critical to economic growth and residents’ wellbeing.
The governor gave the charge during the formal inauguration of the LASERC board at the Banquet Hall, Lagos House, Ikeja.
Sanwo-Olu said the establishment of the commission and the inauguration of its board marked another step in the state’s effort to build a sustainable and investor-friendly electricity market capable of delivering reliable power to homes, businesses and public infrastructure.
He urged the board members, led by Chairman Alexander Ogunbiyi, to see their appointment as an opportunity to drive purposeful reforms that would strengthen the electricity sector and attract investments.
According to the governor, the board must work in unity and with a sense of responsibility to ensure that Lagos becomes a model for electricity regulation in Nigeria.
Sanwo-Olu noted that the inauguration followed the passage of the Lagos State electricity law by the House of Assembly, which aligns with the national electricity reform framework and empowers the state to regulate its electricity market.
He said the law provides the legal backing for the creation of a transparent, competitive and investor-friendly regulatory environment that will support improved electricity generation, distribution and supply.
The governor stressed that regulation must not become an obstacle to growth but should encourage innovation, partnership and investment in 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 reform are achieved.
He said reliable power supply remains essential for small businesses, industries and large corporate organisations, noting that energy challenges continue to affect productivity and operating costs.
The governor also said Lagos was already taking steps to improve energy infrastructure, including the installation of thousands of streetlights across the state to enhance safety, economic activities and public confidence.
According to him, the state aims to build a 24-hour economy supported by stable electricity supply and modern energy infrastructure.
Sanwo-Olu said investors were already showing interest in the Lagos electricity market, stressing that the new regulatory framework must encourage more participation and protect consumers.
The Commissioner for Energy and Mineral Resources, Biodun Ogunleye, described the inauguration as a major milestone in the implementation of the Lagos electricity law.
He said the commission would provide the institutional framework required to regulate a dynamic electricity market and ensure transparency, efficiency and investor confidence.
Ogunleye explained that LASERC would be responsible for licensing, market monitoring, consumer protection and overall governance of electricity operations within the state.
He said the responsibilities of the commission were critical to achieving a reliable power sector that can support economic development and improve the quality of life for residents.
The commissioner commended the governor for his leadership in driving reforms in the energy sector and positioning Lagos at the forefront of sub-national electricity regulation in Nigeria.
He noted that members of the board were carefully selected based on their experience, integrity and professional competence in finance, law, engineering and energy management.
Ogunleye expressed confidence that the board would work with the ministry and other stakeholders to strengthen energy security and expand electricity access across the state.
In his remarks on behalf of the board, Chairman Alexander Ogunbiyi thanked the governor for the confidence reposed in the members.
He assured that the board would discharge its duties diligently, transparently and in accordance with the law guiding the commission.
Ogunbiyi pledged that the commission would work with all stakeholders in the electricity value chain to create a stable, efficient and investor-friendly market.
“The board is committed to supporting the state government’s vision of a reliable and sustainable power sector capable of driving industrial growth and improving the lives of Lagos residents.,” he said.