THE Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight to the Lagos State Electricity Regulatory Commission (LASERC), barely two weeks after Lagos State Governor Babajide Sanwo-Olu signed the Lagos Electricity Bill 2024.

Based on this power, the LASERC has the mandate to generate, transmit, and distribute electricity, marking a significant step under the provisions of the amended Electricity Act 2023.
In its statement, NERC stated that based on the provision of the Electricity Act, the Government of Lagos State has complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Lagos State.

According to NERC, the move aligns with Nigeria’s constitutional reforms, which allow states to establish and regulate their own intrastate electricity markets.

It maintained that Lagos State has fulfilled the legal requirements, formally requested the transfer of regulatory authority from NERC to LASERC.