Sanwo-Olu Inaugurates LASERC Board with 24-Hour Power Mandate; Charges ‘Tax Tsar’ Team to Ignite Lagos’ Round-the-Clock Economy

Lagos State has officially taken the “driver’s seat” in its journey toward energy independence. On Monday, March 9, 2026, Governor Babajide Sanwo-Olu formally inaugurated the board of the Lagos State Electricity Regulatory Commission (LASERC), handing them a clear and ambitious ultimatum: deliver a 24-hour power supply to fuel Africa’s largest sub-national economy.

Speaking at the ceremony in Ikeja, the Governor made it clear that the era of “State of Harmony” between Lagosians and darkness must come to an end. “This is a significant milestone in our plan to create a reliable electricity market,” Sanwo-Olu stated. “We are giving light, leadership, and direction to the goal of a 24-hour economy. When you work well, the entire resident population of Lagos benefits.”

The new board, led by Chairman Akinwunmi Ogunbiyi and CEO Temitope George, is stepping into a powerful role created by the Lagos State Electricity Law 2024. Unlike the old system where the federal government held all the cards, LASERC now has the legal teeth to issue its own licenses, set fair tariffs, and protect consumers from “exploitative practices” by local providers. The Governor urged the board to move beyond mere regulation and become “deal-makers” who can attract the billions in private capital needed to modernize the state’s aging grid.

To ensure no community is left behind, the Governor also pointed to the newly established Lagos Electrification Fund, which will specifically target rural and “unserved” areas. With over 4,000 new streetlights already illuminating the state’s night economy, the inauguration of LASERC is seen as the final piece of the puzzle. As the “Tax Tsar” principles of efficiency are applied to the power sector, the message from the Alausa Government House is unmistakable: the days of relying solely on a flickering national grid are officially over.