The Lagos State Electricity Regulatory Commission has issued 14 new electricity licences and permits to private investors as part of efforts to deepen power sector reforms and expand electricity access across the state.
The licences were presented during LASERC’s maiden stakeholder engagement held between May 7 and 8, 2026, at The Cordis Hotel in Lagos.
The development marks a major milestone in the state’s intrastate electricity market framework following the transfer of regulatory oversight from the Nigerian Electricity Regulatory Commission to LASERC.
The newly issued licences cover off-grid generation, embedded generation, independent electricity distribution and metering services aimed at improving power supply in industrial clusters, commercial centres and residential communities.
Speaking at the event, LASERC Chairman, Alexander Ogunbiyi, said the initiative reflects the Lagos State Government’s commitment to building a more reliable, decentralised and efficient electricity market driven largely by private sector investment.
According to him, the state is focused on creating a business-friendly regulatory environment that encourages innovation and investment rather than competing directly with operators.
“We are building a framework that allows investors and operators to thrive while ensuring residents and businesses enjoy improved electricity access and service delivery,” Ogunbiyi stated.
Also speaking, the Chief Executive Officer of LASERC, Temitope George, said the state’s electricity reform agenda is designed to reduce dependence on the national grid while expanding stable power supply to underserved areas.
George noted that the commission is pursuing long-term targets that include achieving 97.5 per cent electricity availability across Lagos and reducing market losses to below 10 per cent by 2030.
She disclosed that LASERC plans to introduce 24-hour electricity franchise zones across parts of the state beginning in October 2026 as part of efforts to strengthen power reliability and attract more industrial investment.
The CEO further revealed that the commission is developing an AI-enabled metering initiative known as the “Electric Eye of Lagos,” which is expected to improve transparency, energy accounting and consumer monitoring within the state’s electricity ecosystem.
Industry stakeholders at the engagement described the issuance of the licences as a significant step toward liberalising the electricity market in Lagos and accelerating investment in alternative power infrastructure.
The reforms are expected to support businesses struggling with high energy costs and unreliable supply from the national grid, while also encouraging innovation in renewable and embedded power solutions.
The stakeholder engagement brought together regulators, investors, energy companies, technology providers and distribution operators to discuss the future of Lagos’ electricity market and implementation strategies for the new regulatory framework.