By Energy Worth
The Lagos State Electricity Regulatory Commission (LASERC) has officially granted distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, authorizing them to take over electricity distribution responsibilities from Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively.
This development marks a significant step forward in implementing the Lagos State Electricity Policy and fostering a more competitive electricity market within the state.
During a licence handover ceremony held on Thursday, October 2, 2025, LASERC Commissioners, led by Chairman Engr. Abimbola Odubiyi, formally presented the licences to the new operators. Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro represented Excel Distribution Company Limited.
With these new licences, Eko Disco and Ikeja Electric are no longer recognized as distribution licensees in the Lagos Electricity Market. Excel Distribution Company and IE Energy Lagos are now the officially sanctioned distributors.
Chairman Odubiyi described this as “a defining moment in Lagos’ efforts to establish a reliable and sustainable electricity market,” affirming LASERC’s commitment to independence, transparency, and service delivery to Lagos residents.
He also praised Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for their continued support in strengthening electricity regulation.
LASERC CEO Dr. Fouad Animashaun emphasized that issuing the licences demonstrates the state’s dedication to encouraging private sector involvement.
“By increasing competition, Lagosians can expect improved access, greater reliability, and more affordable electricity services,” he noted.
Representatives from the new companies pledged to enhance power distribution throughout Lagos. Kola Adeshina of IE Energy promised innovative solutions to add value for customers, while Sheri Adegbenro of Excel Distribution Company assured residents of better service and closer cooperation with LASERC.
Officials highlighted that this transition aligns with the state government’s vision to create a fair, competitive, and sustainable electricity market that guarantees reliable power supply for all residents.
