The Lagos State Government has announced the constitution of the Governing Board and Management Team of the Lagos State Independent System Operator (LAISO), a strategic institution established pursuant to the Lagos State Electricity Law (LSEL) 2024 to ensure the efficient, reliable, transparent, and secure operation of the Lagos Electricity Market.

LAISO is responsible for maintaining the reliability of electricity supply within the State through the operation of the State Grid, wholesale electricity markets, and associated system and market functions necessary for the effective functioning of the Lagos Electricity Market.

The newly constituted Governing Board is chaired by Lagos State Commissioner for Energy and Mineral resources, Biodun Ogunleye, with Prof. Lanre Fagbohun serving as Vice Chairman. Other members are Abayomi Oluyomi, Engr. Ibilola Kasunmu, Engr. Muktaar Tijani, and Dr. Oladimeji-Yisa Taiwo, who also serves as Managing Director.

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.

In accordance 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 representing transmission-dependent generation companies, transmission companies, transmission-dependent distribution companies, embedded generation companies, distributed energy resources and Independent Electricity Distribution Networks (IEDNs), grid-tied customers, end-use customers, and other market participants.

The Management Team comprises Dr. Oladimeji-Yisa Taiwo as Managing Director, Engr. Adetunji Bashiru Adesanya as System Operator, and Barr. Bunmi Benson as Market Operator. Dr. Taiwo brings over three decades of experience spanning financial systems regulation, public policy, and corporate leadership, including distinguished service at the Central Bank of Nigeria. Engr. Adesanya is a highly experienced power systems professional with over 35 years of expertise in transmission operations, grid management, system reliability, and network planning, while Barr. Benson is a seasoned legal and energy sector expert with extensive experience in regulatory compliance, market governance, and commercial transactions within the energy and financial sectors.

The Management Team will be responsible for the day-to-day administration and operation of LAISO, including system operations, market administration, grid coordination, market settlements, and ensuring compliance with applicable technical, commercial, operational, and regulatory requirements.

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 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.