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 development and drives sustainable growth in the Lagos Electricity Market.
The assurance was given by the Commission’s Chief Executive Officer and Executive Member, Mrs. Temitope George, 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 explored opportunities for collaboration on innovative energy solutions aimed at expanding electricity access and accelerating Lagos State’s transition to a cleaner and more sustainable energy future.
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 company also proposed the establishment of electricity cooperatives, standardised market documentation, and a Lagos State Metering Summit to fast-track universal metering across the state.
Mrs. George commended the company’s innovative approach to electricity infrastructure development, noting that Lagos offers significant opportunities for responsible private sector participation in the electricity sector. She stressed that LASERC remains committed to supporting innovation while ensuring full compliance with the Lagos State Electricity Law and other regulatory standards to deliver reliable, affordable, and sustainable electricity to residents.
She added that the Commission would continue to engage with investors and project developers whose initiatives promote electricity access, clean energy deployment, technological innovation, and consumer confidence in the state’s evolving electricity market.
Also speaking, Executive Member, Engineering and Standards, Engr. Adekunle Olopade, underscored the importance of maintaining high technical, engineering, and safety standards in electricity infrastructure projects. He assured the delegation of LASERC’s readiness to provide the necessary technical guidance to support the successful implementation of safe, resilient, and sustainable energy projects.
Similarly, Executive Member, Licensing and Economic Regulation, Mr. Olakunle Falola, reaffirmed the Commission’s commitment to a robust regulatory framework that encourages investment while safeguarding consumer interests. He noted that embedded generation, electricity cooperatives, and innovative metering solutions could significantly accelerate electricity market development when backed by sound licensing processes and transparent regulatory oversight.
Responding on behalf of OCEL, Mr. Idaewor Aswdun appreciated LASERC for the engagement and reaffirmed the company’s commitment to partnering with the Commission to deliver innovative, environmentally sustainable, and commercially viable energy solutions that will improve electricity access, strengthen energy resilience, and support Lagos State’s economic development.
Both parties concluded the meeting by expressing optimism about future collaboration and reaffirming their shared commitment to advancing innovative energy solutions that will strengthen the Lagos Electricity Market, attract sustainable investment, and improve electricity reliability across the state.
