Lagos names LAISO leadership team to oversee electricity market
By Aboki Forex —
The Lagos State Government has officially inaugurated the leadership of the Lagos State Independent System Operator (LAISO), the institution created to manage the state's electricity market efficiently and transparently.
The Lagos State Ministry of Energy and Mineral Resources announced the constitution of the Governing Board and Management Team. LAISO was established under the Lagos State Electricity Law (LSEL) 2024.
This move is a key step in implementing Lagos' electricity sector reforms. Governor Babajide Sanwo-Olu signed the Lagos Electricity Bill 2024 into law in December 2024. The government says the law aims to achieve round-the-clock electricity supply across the state.
LAISO will operate the state grid, manage wholesale electricity markets, and handle other critical functions to keep the Lagos Electricity Market reliable.
The Governing Board is chaired by former Lagos Commissioner for Energy and Mineral Resources, Biodun Ogunleye. Prof. Lanre Fagbohun is Vice Chairman. Other members include Abayomi Oluyomi, Ibilola Kasunmu, Muktaar Tijani, and Oladimeji-Yisa Taiwo, who also serves as Managing Director.
According to the government, the board will provide strategic direction, policy oversight, and corporate governance. Members bring expertise in engineering, electricity systems, finance, law, regulation, risk management, and executive leadership.
LAISO will also set up a Member Sector Group Committee. This committee will include licensed users of the Lagos electricity grid and registered market participants. It will serve as a platform for stakeholder engagement.