Financial Energy Review
In a significant move to advance the energy sector, Governor Babajide Sanwo-Olu of Lagos State has approved the constitution of the Lagos State Electricity Regulatory Commission (LASERC). The appointments, which are subject to confirmation by the Lagos State House of Assembly, aim to create a robust regulatory framework to ensure reliable and sustainable energy for all.
Engr. Abimbola Odubiyi has been appointed Chairman/Non-Executive Commissioner. With extensive experience in regulatory reforms and electricity market operations, Engr. Odubiyi brings a wealth of knowledge to the Commission. “I am honored to serve in this capacity,” said Odubiyi. “This is an opportunity to build a sustainable energy future for Lagos State.” A seasoned professional, he has held key positions, including serving as a pioneer commissioner at the Nigerian Electricity Regulatory Commission (NERC).
Dr. Fouad Animashaun has been named the Executive Commissioner and Chief Executive Officer (CEO). With a PhD in Energy Policy from the University of Dundee and over a decade of experience in energy infrastructure and policy, Dr. Animashaun will oversee the strategic operations of the Commission. “Our goal is to create an environment that fosters innovation and ensures energy for all,” he stated. His leadership is expected to drive Governor Sanwo-Olu’s vision of an inclusive and efficient energy sector.
Mrs. Kofo Olokun-Olawoyin will serve as the Executive Commissioner for Legal Advisory, Registration, and Licensing. A recognized expert in power sector management, Mrs. Olokun-Olawoyin’s role will focus on regulatory compliance and the licensing processes essential for the electricity market. “This is an exciting challenge to shape the legal and operational frameworks that will underpin Lagos State’s energy ambitions,” she said.
Engr. Oluwaseun Fadare, appointed as Executive Commissioner for Engineering and Standards, will leverage his engineering expertise to ensure the efficient operation and maintenance of electricity systems. With a Ph.D. in Technology Management and extensive experience in power plant operations, Engr. Fadare emphasized the importance of innovative engineering solutions. “We are committed to delivering sustainable energy infrastructure,” he remarked.
Barr. Bunmi Benson will serve as Market Operator, laying the foundation for the Independent System Operator. Her experience in energy law and market regulation will be critical in ensuring a transparent and efficient marketplace. “This is a pivotal step in driving Lagos towards energy independence,” said Barr. Benson.
Governor Sanwo-Olu expressed confidence in the team, stating, “The constitution of LASERC marks a critical milestone in our energy reform agenda. I am optimistic that the team will deliver on our commitment to provide sustainable and reliable energy to Lagosians.”
The establishment of LASERC underscores the government’s commitment to creating a self-sufficient energy market, reducing reliance on the national grid, and enhancing energy access in Lagos State. With this pioneering team, LASERC is poised to play a transformative role in Lagos’ energy landscape.
