Lagos State Governor, Babajide Sanwo-Olu has approved the constitution of the Lagos State Electricity Regulatory Commission (LASERC).
This is according to a statement from the Office of the Special Adviser to the Governor (Media and Publicity).
The newly established body is tasked with regulating and developing the electricity market in the state.
The appointments, which are subject to confirmation by the Lagos State House of Assembly, aim to position Lagos as a leader in sustainable energy solutions.
Engr. Abimbola Odubiyi has been appointed as the Chairman and Non-Executive Commissioner of LASERC.
A pioneer in electricity market operations and regulatory reforms, Odubiyi’s extensive experience includes serving as a Commissioner at the Nigerian Electricity Regulatory Commission (NERC) and holding key roles at PowerGen/EON UK. With academic credentials spanning Electrical Engineering and International Business, he is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the Nigerian Society of Engineers.
Dr. Fouad Animashaun will serve as the Executive Commissioner and Chief Executive Officer of the commission.
With a career dedicated to energy policy, infrastructure development, and electricity sector reforms, Animashaun has previously held positions such as Managing Director of Igando Electric and Special Adviser on Power to the Lagos State Government. He holds a PhD in Energy Policy from the University of Dundee and has led several transformative initiatives in renewable energy and stakeholder engagement.
Mrs. Kofo Olokun-Olawoyin, a seasoned legal expert, has been appointed Executive Commissioner in charge of Legal Advisory, Registration, and Licensing.
Her career includes roles at Eko Electricity Distribution Plc and Transcorp Group, where she specialized in regulatory compliance, tariff setting, and energy economics. With multiple advanced degrees in law from prestigious institutions in the UK and France, Olokun-Olawoyin’s expertise will help establish a robust regulatory framework for the electricity market in Lagos State.
Engr. Oluwaseun Fadare has been appointed as the Executive Commissioner responsible for Engineering and Standards. His vast experience in power plant management and operational strategy includes leadership roles at Transcorp Power Limited and the Niger Delta Power Holding Company.
Fadare, who holds a PhD in Technology Management, brings a commitment to innovation and efficiency in the energy sector.
Barr. Bunmi Benson will serve as the Market Operator, a critical role in ensuring the smooth operation and regulation of the electricity market. Her expertise in legal advisory, particularly in energy and technology, includes previous roles at the Nigeria Inter-Bank Settlement System (NIBSS) and Broron Oil and Gas.
Benson, who holds an LLM in Petroleum Law and Policy, will focus on building a transparent and efficient market structure for Lagos State.
These appointments come less than a week after the Nigerian Electricity Regulatory Commission (NERC) announced the transfer of regulatory oversight of the electricity market in Lagos State to LASERC.
“In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission (NERC or the Commission) has issued an order to transfer regulatory oversight of the electricity market in Lagos State from the Commission to the Lagos State Electricity Regulatory Commission (LASERC).
“Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.
“The EA also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the State Regulator.
“Based on this, the Government of Lagos State complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Lagos State,” NERC said in a statement.