Sanwo-Olu inaugurates electricity board, tasks members on reforms

Babajide Sanwo-Olu of Lagos State, on Monday, inaugurated the board of the Lagos State Electricity Regulatory Commission at Lagos House Ikeja.

Sanwo-Olu urged members to work collaboratively to strengthen the state’s electricity sector and attract investment to the power infrastructure.

The governor said the inauguration marked a crucial step in the state’s efforts to build a sustainable energy future and create a more reliable electricity market for residents and businesses.

He acknowledged that an earlier attempt to set up the board about a year ago did not produce the desired results due to challenges within the board and competing national assignments of some members.

He, however, expressed confidence that the newly inaugurated board has a unique opportunity to work together and deliver meaningful reforms in the sector.

“This inauguration presents a rare opportunity for you to work collaboratively and effectively for the benefit of Lagos.

“When you work well, not only will the sector benefit but the entire residents of Lagos will benefit as well,” Sanwo-Olu said.

He said that establishment of the commission followed enactment of the Lagos Electricity Law by the Lagos State House of Assembly, in alignment with the Electricity Act 2023.

According to him, the law is designed to create an independent, transparent and investor-friendly electricity market in the state.

The governor explained that the legislation also established the state’s electricity fund to support underserved and unserved communities, while formally empowering the regulatory commission to oversee electricity activities within Lagos.

“What we are doing today is giving light, leadership and direction to that goal through the board that we are inaugurating,” he said.

Sanwo-Olu emphasised that the role of the commission was not merely to regulate the sector but to enable collaboration among stakeholders and create an environment that would attract investors.

“A regulator should not be a stumbling block to progress but an enabler that works with stakeholders to solve challenges and create a market where investment can thrive,” he said.

The governor said the state expected the regulatory framework to improve electricity supply and ensure that residents could enjoy reliable power in their homes and businesses.

He added that the state aimed to build a power sector capable of supporting Lagos’ economic growth and enabling a 24-hour economy.

Sanwo-Olu noted that Lagos already had a unique opportunity to reform the electricity market because most of the operations of the two electricity distribution companies serving the state were concentrated within Lagos.

He urged the commission to position the state as a model for electricity market reform that other states could emulate.

“When we get it right in Lagos, other states and regulatory commissions will come to learn from us,” the governor said.

Sanwo-Olu also reiterated the state government’s commitment to improving public lighting and energy infrastructure across Lagos.

He said that more than 4,000 street lights had been installed across the state to improve safety, boost night-time economic activities and enhance the quality of life of residents.

“The idea of ensuring electricity on as many streets as possible is to enable a 24-hour economy and give our people the confidence that their communities are safe and well lit,” he said.

Earlier, the Commissioner for Energy and Mineral Resources, Mr Biodun Ogunleye, said the inauguration represented a major milestone in operationalising the Lagos electricity law and strengthening the regulatory framework for the sector.

According to him, the commission will oversee licensing, tariff regulation, consumer protection, market monitoring and the governance of electricity activities within the state.

He said the board would play a critical role in ensuring transparency, fairness and regulatory certainty, while boosting investor confidence in the Lagos electricity market.

The commissioner added that the ministry would continue to work closely with the commission to expand electricity access, strengthen energy security and support the continued growth of the Lagos economy.