The Nigerian Electricity Regulatory Commission (NERC) has announced the transfer of regulatory oversight for the electricity market in Lagos State to the newly established Lagos State Electricity Regulatory Commission (LASERC).
This move, disclosed in a statement on X (formerly Twitter) on Thursday, is in line with the amended provisions of the Nigerian Constitution and the Electricity Act of 2023.
While LASERC will now oversee the electricity market in Lagos, NERC will retain its role as the central regulator, maintaining oversight of inter-state and international generation, transmission, supply, trading, and system operations.
The statement clarified that NERC issued an order to transfer regulatory duties in Lagos, highlighting specific requirements for the transition. This follows the recent signing of the Lagos Electricity Bill into law by Lagos State Governor Babajide Sanwo-Olu.
The Governor praised the state House of Assembly for its swift passage of the bill, which he believes will significantly improve the socio-economic well-being of Lagos residents. Sanwo-Olu also emphasized that after years of planning, the bill will ensure a more reliable power supply for the people of Lagos.
