Babajide Sanwo-Olu has formally inaugurated the Board of the Lagos State Electricity Regulatory Commission (LASERC) at Lagos House, Ikeja, marking a significant milestone in the ongoing efforts to strengthen electricity regulation and power supply management within Lagos State.
The inauguration follows the enactment of the Lagos State Electricity Law 2024, which was signed into law last year to empower Lagos State with a greater role in regulating, managing, and developing its electricity market.
Speaking during the inauguration ceremony, Governor Sanwo-Olu emphasized that the establishment of LASERC is a strategic step towards creating a more efficient, reliable, and competitive electricity sector that meets the growing demands of residents, businesses, and industries across the state.
According to the governor, the newly inaugurated commission will be responsible for licensing electricity providers operating within Lagos, ensuring fair and transparent tariff structures, protecting consumer rights, and creating a regulatory environment that supports investment and innovation in the power sector.
LASERC is also expected to play a key role in promoting renewable energy solutions and encouraging the development of modern and efficient power systems that will enhance electricity access and sustainability across Lagos State.
Governor Sanwo-Olu noted that the formation of the board reflects the state government’s commitment to building a power sector that works better for everyone, while supporting economic growth and improving the quality of life for millions of Lagos residents.
“With the inauguration of this board, Lagos is taking an important step forward in strengthening how electricity is regulated in our state. Our goal is to ensure a power sector that is reliable, transparent, and capable of supporting the future growth of Africa’s largest city,” the governor stated.
The Lagos State Electricity Regulatory Commission is expected to work closely with stakeholders in the energy sector to develop policies, enforce standards, and drive reforms that will ultimately transform the electricity landscape in the state.
The inauguration of the LASERC board further reinforces the Lagos State Government’s broader commitment to sustainable infrastructure development and improved service delivery across critical sectors of the economy.
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