The Lagos Chamber of Commerce and Industry (LCCI) Power Sector Group has appointed Olufemi Bakare, the Chief Executive Officer of Fenchurch Nigeria, as its new Chairman. This move signals a renewed focus on stakeholder engagement and sustainable reforms within Nigeria’s power sector.

Bakare, a prominent figure in the energy space, currently leads Fenchurch Nigeria, a top infrastructure-focused energy conglomerate operating across Nigeria and West Africa. His appointment follows his tenure as Vice Chairman, confirmed during the recently concluded LCCI General Meeting and elections in Lagos.

Supporting him as Vice Chairman is Oladayo Williams, Programme Executive at Tetracore Group, a company known for integrated energy solutions in natural gas and power delivery.

The newly appointed Executive Committee will serve for a two-year term. During this time, Olufemi Bakare emphasized the group’s commitment to fostering stronger collaboration between private sector stakeholders, government agencies, and the general public to drive meaningful change.

“We look forward to active engagement with industry stakeholders and the government for the advancement of the power sector, which is critical to Nigeria’s economic growth,” Bakare told BusinessDay.

He stressed that resolving Nigeria’s persistent power supply challenges requires a unified approach. Given Lagos’s status as the country’s largest economy, Bakare believes the LCCI Power Sector Group has a crucial role in influencing national energy policy.

Highlighting recent government initiatives, Bakare pointed to increased investment in transmission infrastructure and welcomed tariff reforms that are attracting private investors to embedded generation projects with electricity distribution companies (Discos). However, he noted that more must be done.

“We will continue to push for more investments in transmission, explore possible concessioning of the Transmission Company of Nigeria (TCN), and strengthen support for renewable energy solutions like solar and wind,” said Bakare

As Chairman, Olufemi Bakare also revealed plans for public education campaigns on energy efficiency and the importance of aligning infrastructure planning with urban development. He cited areas like Lekki Phase One in Lagos, where residential zones are rapidly transforming into commercial districts without matching power infrastructure, resulting in overloads and transformer failures.

“Electricity is not cheap, and awareness goes a long way. Everyone—government, private sector, and citizens—has a role to play in improving power delivery,” Bakare added.

With Fenchurch Nigeria’s experience in energy infrastructure and Bakare’s leadership, the LCCI Power Group aims to be a driving force in shaping Nigeria’s power future.

Read the article on BusinessDay:
https://businessday.ng/energy/power/article/lcci-power-group-appoints-olufemi-bakare-chairman-to-drive-increased-advocacy-in-sector-reforms/