The Lagos State Government has inaugurated the leadership team of the Lagos State Independent System Operator (LAISO), a key institution established to oversee the operation of the state’s emerging electricity market and support efforts to deliver reliable power supply to residents and businesses.
The announcement was made by the Lagos State Ministry of Energy and Mineral Resources following the constitution of the Governing Board and Management Team of LAISO, an institution created under the Lagos State Electricity Law (LSEL) 2024.
The move represents a significant milestone in Lagos State’s ongoing electricity sector reforms following Governor Babajide Sanwo-Olu’s signing of the Lagos Electricity Bill into law in December 2024.
The legislation provides the legal framework for a more independent, competitive, and efficient electricity market in Lagos, with the long-term objective of achieving round-the-clock electricity supply across the state.
According to the state government, LAISO will play a critical role in ensuring the efficient, reliable, transparent, and secure operation of the Lagos Electricity Market.
Its responsibilities will include managing the state electricity grid, coordinating wholesale electricity market activities, and carrying out other essential functions required for the smooth operation of the electricity ecosystem.
The government said the institution will serve as the operational backbone of the state’s electricity market, helping to improve power reliability, market efficiency, and investor confidence.
To provide strategic direction and oversight, the Lagos State Government has constituted a Governing Board chaired by the Commissioner for Energy and Mineral Resources, Biodun Ogunleye.
Prof. Lanre Fagbohun, former Vice-Chancellor and legal scholar, will serve as Vice Chairman.
Other members of the board include Abayomi Oluyomi, Ibilola Kasunmu, Muktaar Tijani, and Oladimeji-Yisa Taiwo, who will also serve as Managing Director of LAISO.
According to the government, the board was carefully assembled to leverage expertise across engineering, electricity systems, finance, law, regulation, risk management, and corporate leadership.
The board will be responsible for policy direction, corporate governance, and ensuring that LAISO delivers on its mandate effectively.
The state government also announced the appointment of a management team to oversee the day-to-day operations of the institution.
The team comprises:
- Oladimeji-Yisa Taiwo – Managing Director
- Adetunji Bashiru Adesanya – System Operator
- Bunmi Benson – Market Operator
According to the government, Taiwo brings more than three decades of experience in financial systems regulation, public policy, and corporate leadership, including service at the Central Bank of Nigeria.
Adesanya has over 35 years of experience in transmission operations, grid management, and network planning, while Benson possesses extensive expertise in electricity regulation, market governance, and commercial transactions.
The management team will oversee system operations, market administration, grid coordination, market settlements, and compliance with technical and regulatory standards.
As part of its governance structure, LAISO is expected to establish a Member Sector Group Committee comprising licensed users of the Lagos electricity grid and registered market participants.
The committee will serve as a stakeholder engagement platform bringing together electricity generation companies, distribution companies, embedded generation operators, distributed energy providers, large customers, and other market participants.
The government said the platform will promote collaboration, transparency, and effective participation within the Lagos Electricity Market.
The inauguration of LAISO’s leadership comes as Lagos accelerates efforts to build a competitive and investor-friendly electricity market.
The reforms are part of broader changes triggered by the Electricity Act signed into law by President Bola Tinubu in June 2023, which empowered states to regulate electricity generation, transmission, distribution, and supply within their jurisdictions.
Since then, Lagos has emerged as one of the leading states driving electricity sector reforms.
In recent months, the state approved 14 electricity licences and permits covering off-grid generation, embedded generation, independent distribution networks, metering services, and mini-grid operations.
The Lagos State Electricity Regulatory Commission (LASERC) has also announced plans to begin pilot 24-hour electricity franchise zones by October 2026.
Additionally, the state has entered into Power Purchase Agreements (PPAs) and concession arrangements with three Independent Power Producers (IPPs) aimed at expanding generation capacity by between 200 and 400 megawatts in the coming years.
The government described the inauguration of the LAISO board and management team as a major step toward building a reliable, transparent, and sustainable electricity market capable of supporting economic growth and improving the quality of life for Lagos residents.
