The Lagos State Electricity Regulatory Commission, LASERC has reaffirmed its commitment to smart regulation and the development of a more efficient electricity market with the successful hosting of its maiden Stakeholders’ Engagement Forum in Lagos.
The forum, held on Thursday at the Cordis Hotel, brought together key stakeholders across the electricity value chain, including development partners, market operators, investors, consumer groups, artisans, community representatives, and members of the media.
Speaking at the event, Chief Executive Officer and Executive Member of LASERC, Temitope George, described the engagement as a defining moment in the evolution of Lagos State’s electricity sector and a reflection of the commission’s commitment to transparency, collaboration, and stakeholder inclusion.
According to her, the forum signals the beginning of a new regulatory era focused on building a functional, innovative, consumer-centred, and efficient electricity market capable of supporting Lagos State’s economic growth ambitions.
George stated that the commission’s vision is to become a leading electricity regulator by facilitating sustainable electricity development and improving the quality of life of Lagos residents.
She added that LASERC remains focused on setting and enforcing standards, protecting consumers, enabling investment, supporting innovation, and promoting clean energy adoption across the state.
As part of efforts to strengthen consumer protection and improve access to regulatory services, George disclosed that LASERC plans to establish zonal offices in Ikorodu, the Amuwo Odofin/Badagry axis, and the Sangotedo/Epe axis. The offices are expected to commence operations in the third quarter of the year.
She stressed that sustainable growth within the electricity sector can only be achieved through collaboration, shared responsibility, and continuous engagement among stakeholders.
A major highlight of the engagement was the presentation of the commission’s regulatory agenda, market performance highlights, retail service code, and operational framework by George, Executive Member for Licensing and Economic Regulation, Olakunle Falola, Executive Member for Engineering and Standards, Adekunle Olopade, and Lagos Independent System Operator Network Operator, Adetunji Adesanya.
The presentations provided stakeholders with insights into LASERC’s immediate, short-term, and long-term plans aimed at strengthening the Lagos electricity market through improved regulation, operational efficiency, safety standards, consumer protection, and enhanced service delivery.
During the event, Board Chairman of LASERC, Alexander Ogunbiyi, presented 14 licences and permits to compliant operators and stakeholders in recognition of their adherence to regulatory standards and industry requirements.
The commission said the gesture reinforces its commitment to building a structured, accountable, and fully regulated electricity market in Lagos State.
Interactive sessions at the forum also focused on addressing sector challenges and identifying pathways for sustainable electricity development across the state.
LASERC reiterated its commitment to creating an enabling regulatory environment that balances affordability with cost-reflective pricing, innovation with regulation, and sector growth with equity.
