The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory authority over Lagos State’s electricity market to the Lagos State Electricity Regulatory Commission (LASERC).
This development, in line with the amended Electricity Act 2023, empowers Lagos to independently oversee electricity operations within the state, including setting tariffs and regulating supply.
A statement issued by NERC read: “In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023, the Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Lagos State from the Commission to the Lagos State Electricity Regulatory Commission (LASERC).”
The order further directed Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric Plc (IE) to create subsidiaries within 60 days from December 5, 2024. These entities will manage intrastate electricity supply and distribution in Lagos State.
The statement highlighted NERC’s continued role as a central regulator for interstate and international electricity operations, noting: “The Commission retains oversight on interstate/international generation, transmission, supply, trading, and system operations. However, the Electricity Act 2023 mandates any state intending to regulate intrastate electricity markets to notify the Commission and request a transfer of authority.”
NERC confirmed that all regulatory transitions for Lagos State will be completed by June 4, 2025.
In addition to Lagos, six other states—Enugu, Kogi, Ondo, Ekiti, Oyo, and Imo—have also received regulatory oversight for their electricity markets.
