The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight of Lagos State’s electricity market to the newly established Lagos State Electricity Regulatory Commission (LASERC).
In a statement released on Thursday, NERC said the move aligns with the amended Nigerian Constitution and the Electricity Act of 2023. However, NERC will retain control over inter-state and international electricity generation, transmission, and trading.
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The transfer order outlines specific provisions for the regulatory handover. This follows Lagos State Governor Babajide Sanwo-Olu’s recent signing of the Lagos Electricity Bill into law.
Governor Sanwo-Olu praised the state’s House of Assembly for expediting the bill’s passage, noting that it will boost socio-economic development by ensuring a steady power supply for Lagos residents.
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