The Lagos State Government has inaugurated the governing board and management team of the Lagos State Independent System Operator (LAISO), the institution established under the Lagos State Electricity Law (LSEL) 2024 to ensure the efficient, reliable and secure operation of the Lagos Electricity Market.
The development, announced by the Lagos State Ministry of Energy and Mineral Resources, marks a significant step in implementing the state's electricity reforms following Governor Babajide Sanwo-Olu's signing of the Lagos Electricity Bill into law in December 2024.
LAISO will oversee the reliability of electricity supply across Lagos by operating the state grid, managing wholesale electricity markets and performing other critical market functions.
The governing board is chaired by **Biodun Ogunleye**, a former Lagos Commissioner for Energy and Mineral Resources, with **Prof. Lanre Fagbohun** appointed as Vice Chairman. Other board members include Abayomi Oluyomi, Ibilola Kasunmu, Muktaar Tijani, and Oladimeji-Yisa Taiwo, who will also serve as Managing Director. The board is expected to provide strategic direction, policy oversight and corporate governance leadership, drawing on members' expertise in engineering, electricity systems, finance, law, regulation, risk management and executive leadership.
LAISO will also establish a **Member Sector Group Committee** comprising licensed users of the Lagos electricity grid and registered market participants, including generation companies, distribution companies, embedded generation operators, distributed energy resource providers and grid-connected customers.
The management team handling day-to-day operations consists of **Oladimeji-Yisa Taiwo** as Managing Director, **Adetunji Bashiru Adesanya** as System Operator and **Bunmi Benson** as Market Operator. Taiwo brings over 30 years of experience in financial systems regulation and public policy, including service at the Central Bank of Nigeria. Adesanya has more than 35 years in transmission operations and grid management, while Benson holds extensive expertise in energy regulation and market governance.
The constitution of LAISO's leadership follows the **Electricity Act** signed by President Bola Tinubu in June 2023, which empowered states to make laws regulating electricity generation, transmission, distribution and supply within their jurisdictions. Lagos has since joined a growing list of states transitioning towards regulating their own electricity markets, according to the Nigerian Electricity Regulatory Commission (NERC).
In recent months, the Lagos State Government approved **14 electricity licences and permits** covering off-grid generation, embedded generation, independent distribution, metering services and interconnected mini-grid operations. The Lagos State Electricity Regulatory Commission (LASERC) has announced plans to launch **24-hour electricity franchise zones** by October 2026. Additionally, the state has signed Power Purchase Agreements and concession arrangements with three Independent Power Producers targeting generation capacity of between **200 megawatts and 400 megawatts**.
The government described the establishment of LAISO's leadership as a major milestone reinforcing its commitment to building a reliable, competitive and investor-friendly electricity sector capable of attracting investment and supporting economic growth.
