The Lagos State Government has constituted the Governing Board and Management Team of the Lagos State Independent System Operator (LAISO) as part of efforts to strengthen reforms in the state’s electricity market and improve power supply reliability.

LAISO was established under the Lagos State Electricity Law (LSEL) 2024 as a strategic institution responsible for ensuring the efficient, reliable, transparent and secure operation of the Lagos electricity market.

According to the state government, the new leadership structure will play a critical role in maintaining electricity supply reliability across Lagos through the operation of the state grid, wholesale electricity markets and other key system and market functions.

The newly inaugurated Governing Board is chaired by Biodun Ogunleye, with Prof. Lanre Fagbohun serving as Vice Chairman. Other members include Abayomi Oluyomi, Engr. Ibilola Kasunmu, Engr. Muktaar Tijani and Dr. Oladimeji-Yisa Taiwo, who also serves as Managing Director of LAISO.

The government said the board will provide strategic direction, policy oversight and corporate governance leadership, leveraging the members’ expertise in electricity systems, engineering, finance, law, regulation, risk management and executive leadership.

In line with Sections 97(3) and 97(5) of the Lagos State Electricity Law 2024, LAISO will establish a Member Sector Group Committee to enhance stakeholder engagement within the electricity market.

The committee will comprise licensed users of the Lagos electricity grid and registered market participants, including transmission-dependent generation companies, transmission companies, transmission-dependent distribution companies, embedded generation companies, distributed energy resource operators, Independent Electricity Distribution Networks, grid-connected customers and end-use consumers.

The management team is headed by Dr. Taiwo as Managing Director, alongside Engr. Adetunji Bashiru Adesanya as System Operator and Barr. Bunmi Benson as Market Operator.

Dr. Taiwo brings more than 30 years of experience in financial systems regulation, public policy and corporate leadership, including service at the Central Bank of Nigeria.

Engr. Adesanya is an experienced power systems professional with over 35 years of expertise in transmission operations, grid management, system reliability and network planning.

Barr. Benson is a legal and energy sector expert with extensive experience in regulatory compliance, market governance and commercial transactions across the energy and financial sectors.

The management team will oversee the day-to-day administration of LAISO, including system operations, market administration, grid coordination, market settlements and compliance with technical, commercial, operational and regulatory requirements.

The state government described the constitution of the board and management team as a major milestone in the implementation of the Lagos Electricity Market, underscoring its commitment to building a more reliable, competitive, transparent and investor-friendly power sector.

According to the government, the reforms are designed to attract investment, improve market performance and enhance the quality of life of residents through a more resilient electricity system.

The government also called on stakeholders and market participants to support the new leadership as it begins work to advance the Lagos electricity market in line with the state’s long-term energy vision.