The Lagos State Government has constituted the Governing Board and Management Team of the newly established Lagos State Independent System Operator, LAISO, marking a significant step in the implementation of the Lagos State Electricity Law, LSEL 2024 and the development of a competitive electricity market in the state.
The state government announced that LAISO was created to ensure the efficient, reliable, transparent and secure operation of the Lagos Electricity Market, with responsibility for maintaining electricity supply reliability through the operation of the state grid, wholesale electricity markets and other critical system functions.
According to the government, the newly inaugurated Governing Board will be chaired by Biodun Ogunleye, while Lanre Fagbohun will serve as Vice Chairman. Other members of the board include Abayomi Oluyomi, Ibilola Kasunmu, Muktaar Tijani and Oladimeji-Yisa Taiwo.
The board is expected to provide strategic direction, policy oversight and corporate governance leadership for the organisation, leveraging expertise in electricity systems, engineering, finance, law, regulation, risk management and executive leadership.
In line with the provisions of the Lagos State Electricity Law 2024, LAISO will also 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 representing generation companies, transmission operators, distribution companies, embedded generation firms, distributed energy resources, Independent Electricity Distribution Networks (IEDNs), grid-connected customers and other market participants.
The Management Team of LAISO will be led by Dr. Taiwo as Managing Director. He will be joined by Adetunji Bashiru Adesanya as System Operator and Bunmi Benson as Market Operator.
The government noted that Dr. 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.
Engr. Adesanya has over 35 years of experience in power transmission operations, grid management and network planning, while Benson possesses extensive expertise in energy law, regulatory compliance and market governance.
The management team will oversee the day-to-day operations of LAISO, including system operations, market administration, grid coordination, market settlements and compliance with technical, commercial and regulatory requirements.
The Lagos State Government described the development as a major milestone in the implementation of the Lagos Electricity Market, saying it reinforces the state’s commitment to building a reliable, transparent, investor-friendly and sustainable electricity sector capable of stimulating economic growth and improving the quality of life of residents.
The government also called on stakeholders and market participants to support the new leadership team as it works to strengthen and advance the Lagos Electricity Market in pursuit of a resilient energy future for the state.
