Babajide Sanwo-Olu, the governor of Lagos state has approved the establishment of the Lagos State Electricity Regulatory Commission (LASERC), marking a significant advancement in the state’s energy sector.
This move aligns with the decentralisation efforts initiated by the Electricity Act signed by President Bola Tinubu, which transferred certain regulatory functions to the Nigerian Electricity Regulatory Commission (NERC).
The appointments to LASERC are pending confirmation by the Lagos State House of Assembly but are set to take immediate effect.
Abimbola Odubiyi- chairman/non – executive commissioner
Odubiyi brings extensive experience in regulatory reforms and the restructuring of the electricity industry across multiple jurisdictions. His expertise spans technical and commercial operations of gas and coal power stations, network operations, tariff design, and revenue cycle management for distribution companies.
Notably, he served as a pioneer commissioner with NERC, contributing significantly to the development of Nigeria’s electricity regulatory framework.
Fouad Animashaun – executive commissioner & chief executive officer
Animashaun is an energy expert with a robust background in energy policy, infrastructure development, and electricity sector reforms. His career includes roles such as managing director of Igando Electric, special adviser on power to the Lagos state government, and consultant to NERC.
As CEO, he is expected to lead strategic corporate functions, fostering a growth-focused team to realise Governor Sanwo-Olu’s vision of “Energy for All.”
Kofo Olokun-Olawoyin- executive commissioner, legal advisory, registration and licensing
Olokun-Olawoyin is an expert in power sector management, with a career encompassing positions such as Partner at The Transaction Experts LP and Chief Power Procurement and Regulatory Officer at Eko Electricity Distribution Plc.
Her deep understanding of on-grid and off-grid power procurement, renewable energy solutions, and energy economics will be instrumental in ensuring regulatory compliance and facilitating the smooth operation of Lagos State’s electricity market.
Oluwaseun Fadare- executive commissioner (Engineering and standards)
Fadare’s extensive engineering and power plant management expertise positions him to oversee efficient operations and maintenance across the electricity value chain.
His previous roles include Chief Technical Officer at Transcorp Power Limited and Chief Operating Officer at Niger Delta Power Holding Company generation companies. He has also chaired national biannual Generation/Transmission/Distribution planning conferences, influencing Nigeria’s power infrastructure development.
Bunmi Benson – market operator
Benson is appointed to lay the foundations for the Independent System Operator, which will oversee the administration, monitoring, and enforcement of electricity market rules.
Her background as a seasoned legal expert in technology, energy, and digital innovations, along with leadership roles such as Lead Counsel at Mike and Jewel Sage, equips her to ensure a well-structured, fair, and transparent marketplace for stakeholders. Her appointment is pending the full establishment of the Independent System Operator office.
The formation of LASERC is a pivotal step toward enhancing Lagos State’s energy infrastructure, promoting sustainability, and ensuring reliable electricity supply for its residents.
The diverse expertise of the appointed members is expected to drive significant progress in the state’s energy sector, aligning with broader national reforms aimed at decentralising electricity regulation and improving service delivery across Nigeria.