Lagos sets up independent electricity system operator

The Lagos State Government has constituted the governing board and management team of the Lagos State Independent System Operator, a new institution established under the Lagos State Electricity Law 2024 to oversee the operation of the state’s electricity market and ensure reliable power supply.

The government announced the development in a statement on Tuesday, describing it as a major milestone in the implementation of the Lagos State electricity market and a key step towards strengthening electricity governance in the state.

According to the statement, LAISO was created pursuant to the Lagos State Electricity Law 2024 and is responsible for maintaining the reliability of electricity supply within Lagos through the operation of the state grid, wholesale electricity markets, and other system and market functions required for the efficient functioning of the electricity market.

The statement noted that the newly constituted governing board is chaired by Mr Biodun Ogunleye, while Prof. Lanre Fagbohun will serve as Vice Chairman.

Other members of the board are Mr Abayomi Oluyomi, Engr Ibilola Kasunmu, Engr Muktaar Tijani, and Dr Oladimeji-Yisa Taiwo, who will also serve as Managing Director of the organisation.

The government said the board would provide strategic direction, policy oversight, and corporate governance leadership for the independent system operator.

“The board will provide strategic direction, policy oversight, and corporate governance leadership, drawing on its collective expertise in electricity systems, engineering, finance, law, regulation, risk management, and executive leadership to guide the successful operation of LAISO,” the statement disclosed.

It added that in line with Sections 97(3) and 97(5) of the Lagos State Electricity Law 2024, the organisation would establish a Member Sector Group Committee comprising licensed users of the Lagos electricity grid and registered market participants.

According to the government, the committee will serve as a stakeholder engagement platform representing transmission-dependent generation companies, transmission companies, transmission-dependent distribution companies and embedded generation companies, distributed energy resources and independent electricity distribution networks, grid-tied customers, end-use customers, and other market participants.

The management team of LAISO comprises Dr Oladimeji-Yisa Taiwo as Managing Director, Engr Adetunji Adesanya as System Operator, and Barr Bunmi Benson as Market Operator, according to the government.

The statement said 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.

It added that Adesanya has over 35 years of experience in transmission operations, grid management, system reliability and network planning, while Benson possesses extensive expertise in regulatory compliance, market governance and commercial transactions within the energy and financial sectors.

The government explained that the management team would oversee the day-to-day administration and operation of the institution, including system operations, market administration, grid coordination, market settlements, and compliance with technical, commercial, operational and regulatory requirements.

It stated, “The constitution of the governing board and management team marks a major milestone in the implementation of the Lagos State electricity market and reinforces the state government’s commitment to building a reliable, competitive, transparent, and investor-friendly electricity sector capable of driving sustainable economic growth, attracting investment, and improving the quality of life of all Lagosians.”

The statement further urged stakeholders and market participants to support the new leadership.

“The Lagos State Government calls on all stakeholders and market participants to support the newly constituted leadership of LAISO as they undertake the critical responsibility of strengthening and advancing the Lagos Electricity Market in line with the vision of a resilient and sustainable energy future for Lagos State,” it added.