The Lagos State Government has announced the constitution of the Governing Board and Management Team of the Lagos State Independent System Operator (LAISO), a critical institution established under the Lagos State Electricity Law (LSEL) 2024 to oversee the efficient, reliable, transparent, and secure operation of the Lagos Electricity Market.
LAISO was created as part of the state’s ongoing electricity sector reforms following the decentralisation of Nigeria’s power sector.
The institution is responsible for maintaining the reliability and stability of electricity supply within Lagos through the operation of the State Grid, administration of wholesale electricity markets, and execution of other system and market functions necessary for the effective functioning of the Lagos Electricity Market.
According to the state government, the establishment of LAISO represents a major step towards achieving a competitive, investor-friendly, and sustainable electricity ecosystem capable of meeting the growing energy demands of Africa’s largest economic hub.
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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 include Mr. Abayomi Oluyomi, Engr. Ibilola Kasunmu, Engr. Muktaar Tijani, and Dr. Oladimeji-Yisa Taiwo, who also serves as the Managing Director of LAISO.
The Board is expected to provide strategic leadership, policy guidance, and corporate governance oversight for the institution. Its members bring extensive expertise spanning electricity systems, engineering, finance, law, regulation, risk management, and executive leadership, positioning the organisation to effectively deliver on its mandate.
In line with Sections 97(3) and 97(5) of the Lagos State Electricity Law 2024, LAISO will also establish a Member Sector Group Committee comprising licensed users of the Lagos electricity grid and registered market participants. The committee will serve as a key stakeholder engagement platform and advisory body, ensuring broad representation across the electricity value chain.
Membership of the committee will include transmission-dependent generation companies, transmission companies, transmission-dependent distribution companies, embedded generation companies, operators of distributed energy resources and Independent Electricity Distribution Networks (IEDNs), grid-connected customers, end-use consumers, and other registered market participants.
The Management Team charged with the day-to-day administration and operation of LAISO comprises Dr. Oladimeji-Yisa Taiwo as Managing Director, Engr. Adetunji Bashiru Adesanya as System Operator, and Barr. Bunmi Benson as Market Operator.
The team will oversee system operations, market administration, grid coordination, market settlements, and compliance with all applicable technical, commercial, operational, and regulatory requirements. It will also play a central role in ensuring the stability, efficiency, and integrity of the state’s emerging electricity market.
The Lagos State Government described the constitution of the Governing Board and Management Team as a significant milestone in the implementation of the Lagos State Electricity Market, underscoring its commitment to building a reliable, efficient, transparent, and investment-driven power sector.
The government further called on all electricity market participants, investors, operators, and stakeholders to support the newly constituted leadership of LAISO as it undertakes the responsibility of strengthening electricity market operations, enhancing power reliability, and driving sustainable economic growth and improved service delivery across Lagos State.
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