Lagos Sets Up Leadership Team for New Electricity Market Operator
The Lagos State Government has inaugurated the governing board and management team of the Lagos State Independent System Operator (LAISO), a newly established institution responsible for overseeing the state’s electricity market and ensuring stable power supply.
The development marks a significant step in the implementation of the Lagos State Electricity Law 2024 and the broader effort to strengthen electricity regulation and market operations within the state.
LAISO was established to manage key aspects of the Lagos electricity sector, including grid operations, electricity market administration, system coordination, and other functions necessary for maintaining an efficient and reliable power network.
Leading the newly constituted board is Biodun Ogunleye as Chairman, while Prof. Lanre Fagbohun will serve as Vice Chairman. Other members include Abayomi Oluyomi, Engr. Ibilola Kasunmu, Engr. Muktaar Tijani, and Dr. Oladimeji-Yisa Taiwo, who will also serve as the organisation’s Managing Director.
The government explained that the board will provide strategic leadership, policy guidance, and governance oversight, leveraging expertise from various fields such as engineering, finance, law, regulation, risk management, and energy administration.
As part of its operational framework, LAISO is also expected to establish a Member Sector Group Committee comprising licensed operators and participants within the Lagos electricity market. The committee will provide a platform for stakeholder engagement and collaboration among power generation companies, distribution networks, energy resource providers, large consumers, and other market participants.
The management team includes Dr. Oladimeji-Yisa Taiwo as Managing Director, Engr. Adetunji Adesanya as System Operator, and Barr. Bunmi Benson as Market Operator.
According to the state government, the management team will oversee daily operations, including electricity system management, market coordination, regulatory compliance, settlements, and other technical and commercial responsibilities essential to the functioning of the electricity market.
Officials noted that the establishment of the board and management team represents a major milestone in Lagos State’s efforts to create a transparent, competitive, and investor-friendly electricity sector capable of supporting economic growth and improving access to reliable power.
The government also called on industry stakeholders and market participants to cooperate with the new leadership as they work towards building a more resilient and sustainable electricity system for the state.
