Historic Overhaul in Lagos Power Sector as LASERC Issues Fresh Distribution Licences to Excel Distribution Company Limited and IE Energy Lagos Limited

…as Eko Electricity Distribution Plc and Ikeja Electric Plc Cease Operations as New Licensees Take Over Power Supply Across Lagos

In what industry experts are describing as a watershed moment for Nigeria’s commercial capital, the Lagos State Electricity Regulatory Commission (LASERC) has officially granted electricity distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a new era in the state’s electricity distribution landscape.

These two companies have now taken over the distribution operations previously managed by Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively, ending their long-standing dominance in the Lagos power sector.

According to a statement by Dr. Fouad Animashaun, Executive Commissioner and Chief Executive Officer of LASERC, the official licence presentation ceremony took place on Thursday, October 2, 2025, at the Radisson Blu Hotel, Ikeja, in the presence of key stakeholders including representatives of the new licensees, senior government officials, and members of the LASERC Commission.

The ceremony was attended by prominent LASERC officials including Engr. Abimbola Odubiyi (Chairman), Dr. Fouad Animashaun (Executive Commissioner/CEO), Mrs. Kofo Olokun Olawoyin (Executive Commissioner, Legal, Licensing and Compliance), Engr. Oluwaseun Fadare (Executive Commissioner, Engineering and Standards), and Mr. Tunde Gbajumo (Non-Executive Commissioner).

During the signing, Folake Soetan represented IE Energy Lagos Limited, while Sheri Adegbenro signed on behalf of Excel Distribution Company Limited, symbolizing the formal transfer of operational control from the defunct Eko Disco and Ikeja Electric to the new entrants.

With this historic move, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased to exist as legally recognized distribution licensees within Lagos State. The responsibility of electricity distribution across the state now rests solely with Excel Distribution Company Limited and IE Energy Lagos Limited.

Speaking at the ceremony, LASERC Chairman, Engr. Abimbola Odubiyi, described the occasion as “a defining moment in Lagos’ journey towards a reliable and sustainable electricity market.”

He reaffirmed the Commission’s dedication to “independence, transparency, and service to the people of Lagos,” emphasizing that the reforms were designed to bring greater efficiency and accountability to the state’s power sector.

Odubiyi also extended heartfelt appreciation to key state stakeholders, specifically acknowledging the unwavering support of Governor Babajide Sanwo-Olu, the Lagos State House of Assembly led by Speaker Rt. Hon. Mudashiru Obasa, Power Committee Chairman Hon. Akanbi Oluwa, and the Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, for their roles in ensuring the success of the transition.

In his remarks, Dr. Fouad Animashaun, the Executive Commissioner and CEO of LASERC, underlined the broader implications of the licence issuance, stating: “The issuance of these licences underscores our commitment to enabling private sector participation. By expanding competition, we are ensuring that Lagosians can look forward to better access, improved reliability, and affordable electricity supply.”

He further noted that the move represents a bold step towards achieving the Lagos State Government’s vision of a fully liberalized, investor-friendly power market capable of supporting the city’s rapid economic growth and industrial expansion.

Representatives of the newly licensed companies expressed optimism and a sense of responsibility toward their new mandate.

Mr. Kola Adeshina of IE Energy Lagos Limited reaffirmed the company’s commitment to “deploying innovative solutions that deliver value to customers across Lagos,” pledging to leverage technology and efficiency-driven operations to address long-standing power challenges in the state.

Similarly, Sheri Adegbenro of Excel Distribution Company Limited described the licence as “both a privilege and a responsibility,” adding that the company will work closely with LASERC to enhance electricity distribution, strengthen network reliability, and provide improved customer service.

The issuance of these new licences officially ushers in a new phase in Lagos’ electricity distribution framework, setting the stage for increased competition, private sector innovation, and stronger regulatory oversight.

With Excel Distribution Company Limited and IE Energy Lagos Limited now at the helm, industry observers believe Lagos State is on course to achieve a more efficient, customer-focused, and sustainable electricity supply system, a major step toward realizing Governor Sanwo-Olu’s vision of making Lagos a truly 24-hour economy powered by stable energy.