The Lagos State Electricity Regulatory Commission (LASERC) has reaffirmed its commitment to creating a transparent, predictable and investment-friendly regulatory environment that supports clean energy investments and the sustainable growth of the Lagos Electricity Market.
The Chief Executive Officer and Executive Member of LASERC, Mrs. Temitope George, stated this during a strategic engagement with the management of Oko-Oba Clean Energy Limited (OCEL), led by its parent company, New Hampshire Capital, under the leadership of Mr. Idaewor Aswdun.
The meeting focused on exploring opportunities for collaboration on innovative energy solutions aimed at expanding electricity access and accelerating the transition to a cleaner and more sustainable electricity market in Lagos State.
During the engagement, OCEL presented its proposed Oko-Oba Hybrid Clean Energy Project, an integrated renewable energy initiative that combines solar photovoltaic generation, battery energy storage systems and waste-to-power technology. The delegation also proposed the establishment of electricity cooperatives, standardised market documentation and the convening of a Lagos State Metering Summit to accelerate universal metering across the state.
Mrs. George commended the company’s innovative approach to electricity infrastructure development, noting that the Lagos Electricity Market offers significant opportunities for responsible private-sector participation and sustainable investment.
She stressed that LASERC remains committed to fostering innovation while ensuring compliance with the Lagos State Electricity Law, regulatory standards and the Commission’s vision of delivering reliable, affordable and sustainable electricity to Lagos residents.
According to her, the Commission will continue to engage with investors and project developers whose initiatives support expanded electricity access, clean energy deployment, technological innovation and stronger consumer confidence in the state’s evolving electricity market.
Also speaking, LASERC Executive Member, Engineering and Standards, Engr. Adekunle Olopade, underscored the importance of maintaining high technical, engineering and safety standards in the development of electricity infrastructure across Lagos.
He noted that innovative projects such as the proposed hybrid clean energy initiative require thorough technical evaluation to ensure reliability, grid compatibility, operational efficiency, environmental sustainability and compliance with established standards.
Olopade assured the delegation of the Commission’s readiness to provide technical guidance to facilitate the implementation of safe, resilient and sustainable electricity projects in the state.
The Executive Member, Licensing and Economic Regulation, Mr. Olakunle Falola, also reiterated LASERC’s commitment to building a robust regulatory framework that encourages investment while safeguarding consumer interests.
He observed that initiatives such as embedded generation, electricity cooperatives and innovative metering solutions could accelerate electricity market development when supported by appropriate licensing processes, sound commercial structures and transparent regulatory oversight.
Falola maintained that the Commission remains focused on ensuring regulatory certainty, strengthening market confidence and creating an enabling environment for long-term private-sector investment in the Lagos Electricity Market.
Responding on behalf of the delegation, Mr. Idaewor Aswdun expressed appreciation to LASERC for the engagement and reaffirmed OCEL’s commitment to partnering with the Commission to deliver innovative, environmentally sustainable and commercially viable energy solutions.
He said the proposed initiatives are designed to improve electricity access, promote clean energy adoption, enhance energy resilience and contribute to the economic development of Lagos State.
The meeting ended with both parties expressing optimism about future collaboration and reaffirming their shared commitment to advancing innovative energy solutions that will strengthen the Lagos Electricity Market, improve electricity reliability, attract sustainable investments and support Lagos State’s clean energy and economic development goals.