Governor Babajide Sanwo-Olu has approved the constitution of the Lagos State Electricity Regulatory Commission (LASERC), a critical step in advancing the State’s energy sector. The appointments, subject to confirmation by the Lagos State House of Assembly, shall take immediate effect as follows:
The Chairman / Non-Executive Commissioner:
Chairing The Commission as a Non-Executive, on a part time basis is Engr. Abimbola Odubiyi. Engr Odubiyi has in-depth knowledge of Regulatory reforms, Restructuring of Electricity industry and Design, Planning and Operations of Electricity Market in multiple jurisdictions. His industry knowledge transverse technical and commercial operations of Gas and Coal Power Stations to Networks operations, Tariff Design and Revenue Cycle Management activities for Distribution Companies.
He was a Pioneer Commissioner with Nigerian Electricity Regulatory Commission.
While he was with PowerGen/EON UK, his responsibility was largely focused on Contract Management.
He was also technical adviser to the Chairman of Ibadan and Yola Electricity Distribution Companies. Amongst others, he is Chairman, Hebuma Engineering, Abuja and Director, Soboms Nigeria Limited
He holds an MBA in International Business from Aston University, UK. MSc Electrical Power System Engineering, University of Wisconsin Milwaukee, WI, USA. BSC Electrical Engineering from University of Wisconsin Milwaukee, WI, USA.
He is a Member, Institute of Electrical and Electronics Engineering, USA, and the Nigeria Society of Engineers.
Executive Commissioner / Chief Executive Officer
Dr. Fouad Animashaun is the Pioneer Executive Member/CEO of the Lagos State Electricity Regulatory Commission. He is a visionary leader with extensive expertise in energy policy, infrastructure development, and electricity sector reforms. His career spans strategic roles such as Managing Director of Igando Electric, Special Adviser on Power to the Lagos State Government, and Consultant to the Nigerian Electricity Regulatory Commission (NERC).
He would be taking charge of strategic corporate functions, as the CEO and ensuring a growth-focused team working in the right atmosphere to drive Mr Governor’s vision of Energy for All.
With a PhD in Energy Policy from the University of Dundee and over a decade of experience in public-private partnerships, regulatory compliance, and innovative project delivery, he has driven transformational initiatives in renewable energy, stakeholder engagement, and sustainability.
His academic foundation includes an MBA in Oil & Gas Management and a BSc in Business Administration from the University of Lagos, underscoring his strong grasp of energy economics and fiscal systems.
Executive Commissioner, Legal Advisory, Registration and Licensing
Also appointed as an Executive Member of the Lagos State Electricity Regulatory Commission, is Mrs. . Kofo Olokun- Olawoyin who will oversee regulatory compliance, legal advisory, and the registration and licensing processes that are essential for the smooth operation of the electricity market in Lagos State.
A thoroughbred expert in power sector management, her career highlights include roles such as Partner at The Transaction Experts LP, Chief Power Procurement and Regulatory Officer at Eko Electricity Distribution Plc, Group Head Legal/Company Secretary and Regulatory at the Transcorp Group, and, Head, Legal Advisory and Contracts Unit, Eko Electricity Distribution Plc
With a deep understanding of on-grid and off-grid power procurement, renewable energy solutions, and energy economics (including tariff setting and MYTO reviews), she has consistently demonstrated excellence in energy reconciliation and power business development.
Mrs . Olokun-Olawoyin is well-equipped for the role with specialised training in Financial Modelling and Tariff Setting (UK Energy Training Institute), Project Finance (International Faculty of Finance, UK), Application of International Financial Markets Law and Practice (Informa Professional Academy, United Kingdom) and Loan Documentation (Euromoney Legal Training, UK).
She has an LLM in International Commercial Law from the University of Dundee, United Kingdom, another LLM in EU Business and Taxation Law from the Université de Cergy-Pontoise (Cergy-Pontoise, France), a BL from the Nigerian Law School, and LLB from the University of Lagos, Nigeria. She is a Fellow, Chartered Governance Institute, United Kingdom and Fellow, Institute of Credit Administration, Nigeria.
She authored the highly resourced and recommended book: “The Nigerian Electricity Supply Industry- Post Privatisation Realities, Trends and Challenges.
Beyond her schorlaship and remarkable academic credentials, she gained extensive legal experience at leading law firms in Nigeria such as Paul Usoro and Banwo & Ighodalo.
Her expertise will be instrumental in ensuring a robust regulatory framework and fostering of sustainable energy solutions for Lagos State.
Executive Commissioner (Engineering and Standards)
Appointed as an Executive Member of the Lagos State Electricity Regulatory Commission is Engr. Oluwaseun Fadare who will leverage his extensive engineering and power plant management expertise to ensure efficient operations and maintenance across the electricity value chain.
With a career that includes serving as Chief Technical Officer (CTO) at Transcorp Power Limited and Chief Operating Officer (COO) roles at the Niger Delta Power Holding Company generation companies, he has excelled in engineering leadership and operational strategy. His expertise also extends to chairing national biannual Generation/Transmission/Distribution planning conferences, showcasing his influence in shaping Nigeria’s power infrastructure. He is currently the Vice Chairman, National Institution of Power Engineers (NIPE), Edo State and also the National Vice President (Generation Services) Chartered Institute of Power Engineers in Nigeria (CIPEN).
Engr. Fadare holds a Ph.D. and an M.Sc. in Technology Management from Obafemi Awolowo University, along with a B.Sc. in Mechanical Engineering. His additional qualifications include a Certificate in MBA Essentials from the London School of Economics and a Certificate in Sustainable Business Strategy from Harvard Business School Online. With a strong foundation in health, safety, and environment (HSE) standards, Engr. Fadare is well-prepared to support the Commission’s mission of delivering reliable, sustainable, and innovative energy solutions for Lagos.
Barr Bunmi Benson (Market Operator )
Also appointed and to be embedded as the Market Operator in the Lagos State Electricity Regulatory Commission, Mrs. Bunmi Benson will lay the foundations required for the smooth take-off of the Independent System Operator, which would oversee the administration, monitoring, and enforcement of electricity market rules, ensuring a well-structured, fair, and transparent marketplace for stakeholders. Her appointment is pending the full installation of the Independent System Operator office.
A seasoned legal expert in technology, energy, and digital innovations, Ms. Benson has a wealth of experience in providing strategic legal counsel and advisory services for high-value projects and partnerships. She has served in leadership roles such as Lead Counsel at Mike and Jewel Sage and Legal Specialist at Nigeria Inter-Bank Settlement System Plc. (NIBSS). Her previous engagements also include Senior Legal Officer at Broron Oil and Gas Limited and Head of the Legal Unit at Ultima Limited.
With an LL.M. in Petroleum Law and Policy from the University of Dundee (CEPMLP), a Bachelor of Laws (LL.B.) from the University of Lagos, and admission to the Nigerian Bar, Barr. Benson brings a proactive, client-oriented approach to resolving legal and operational challenges. Her leadership and legal acumen will strengthen Lagos State’s electricity market operations, driving efficiency and innovation as she joins the pioneering team.
