In case you missed it, the Lagos State Electricity Regulatory Commission (LASERC) has issued new electricity distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, formally transferring operations from Eko Electricity Distribution Plc (Eko Disco) and Ikeja Electric Plc, respectively.
The development marks a major milestone in the implementation of the Lagos State Electricity Policy and the expansion of a competitive, privately driven power market across the state.
At the official licence presentation ceremony held on Thursday, October 2, 2025, LASERC Chairman, Engr. Abimbola Odubiyi, led other commissioners to formally hand over 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 the issuance of the new licences, Eko Disco and Ikeja Electric have ceased to operate as distribution licensees within the Lagos Electricity Market. Excel Distribution Company and IE Energy Lagos now stand as the legally recognized electricity distributors in the state.
Describing the development as “another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” Odubiyi reaffirmed the Commission’s commitment to independence, transparency, and service excellence.
He also commended Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for their roles in strengthening the state’s electricity framework and supporting reforms in the sector.
LASERC’s Chief Executive Officer, Dr. Fouad Animashaun, said the move demonstrates Lagos’ commitment to private sector participation, adding that the introduction of competition would lead to better access, reliability, and affordability for consumers.
Representatives of the new firms pledged to enhance power distribution across the state.
Kola Adeshina, speaking for IE Energy, promised to deploy innovative technologies to deliver improved services, while Sheri Adegbenro of Excel Distribution Company assured residents of efficient service delivery and close collaboration with LASERC.
Officials emphasized that the transition aligns with the state government’s vision of building a fair, transparent, and sustainable electricity market that guarantees steady power supply for all Lagos residents.