Governor Babajide Sanwo-Olu has approved the constitution of the Lagos State Electricity Regulatory Commission (LASERC), a critical step in advancing the State’s energy sector.
This followed the transfer of regulatory function to NERC in line with decentralisation of the electricity regulation through the Electricity Act signed by President Bola Tinubu.
The appointments, subject to confirmation by the Lagos State House of Assembly, shall take immediate effect.
Chairing the Commission as a Non-Executive, on a part time basis is Engr. Abimbola Odubiyi. Engr Odubiyi has in-depth knowledge of Regulatory reforms, Restructuring of Electricity industry and Design, Planning and Operations of Electricity Market in multiple jurisdictions. His industry knowledge transverse technical and commercial operations of Gas and Coal Power Stations to Networks operations, Tariff Design and Revenue Cycle Management activities for Distribution Companies.
He was a pioneer Commissioner with the Nigerian Electricity Regulatory Commission.
Dr. Fouad Animashaun is the pioneer Executive Member/CEO of the Lagos State Electricity Regulatory Commission.
His career spans strategic roles such as Managing Director of Igando Electric, Special Adviser on Power to the Lagos State Government, and Consultant to the Nigerian Electricity Regulatory Commission (NERC).
He would be taking charge of strategic corporate functions, as the CEO and ensuring a growth-focused team working in the right atmosphere to drive Mr Governor’s vision of Energy for All.
Also appointed as an Executive Member of the Commission, is Mrs. . Kofo Olokun- Olawoyin who will oversee regulatory compliance, legal advisory, and the registration and licensing processes that are essential for the smooth operation of the electricity market in Lagos State.
Engr. Oluwaseun Fadare was appointed Executive Commissioner (Engineering and Standards) and he is expected to leverage on his extensive engineering and power plant management expertise to ensure efficient operations and maintenance across the electricity value chain.
Also appointed and to be embedded as the Market Operator in the Commission is Mrs. Bunmi Benson, who is expected to lay the foundations required for the smooth take-off of the Independent System Operator, which would oversee the administration, monitoring, and enforcement of electricity market rules, ensuring a well-structured, fair, and transparent marketplace for stakeholders. Her appointment is pending the full installation of the Independent System Operator office.
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