The Lagos State Electricity Regulatory Commission (LASERC) has issued electricity distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a historic transition from the former distributors — Eko Electricity Distribution Plc and Ikeja Electric Plc, to a new competitive electricity market framework in Lagos State.
The landmark development, which signifies a major stride in the implementation of the Lagos State Electricity Policy, was announced during a licence presentation ceremony held on Thursday, October 2, 2025, at the Radisson Blu Hotel, Ikeja.
According to a statement signed by Dr. Fouad Animashaun, Executive Commissioner and Chief Executive Officer of LASERC, the event brought together key stakeholders including LASERC Commissioners Engr. Abimbola Odubiyi (Chairman), 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 ceremony, Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro represented Excel Distribution Company Limited.
With the issuance of these licences, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased operations as distribution licensees within the Lagos Electricity Market. Henceforth, the legally recognized distributors are Excel Distribution Company Limited and IE Energy Lagos Limited.
Speaking at the event, LASERC Chairman Engr. Abimbola Odubiyi described the development as “a defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” emphasizing the Commission’s commitment to independence, transparency, and service delivery.
He expressed appreciation to critical stakeholders, particularly Governor Babajide Olusola Sanwo-Olu, the Lagos State House of Assembly led by Speaker Rt. Hon. Mudashiru Obasa, the Chairman of the House Power Committee, Hon. Akanbi Oluwa, and the Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, for their support in actualizing the Commission’s vision.
In his remarks, Dr. Animashaun stated that the new licences reflect LASERC’s drive to enhance private sector participation and expand competition, ensuring Lagosians benefit from greater reliability, access, and affordability in electricity supply.
Representatives of the new licensees also pledged commitment to service excellence, Mr. Kola Adeshina, speaking for IE Energy Lagos Limited, said:
“We are honoured to be part of this transformative journey. Our focus will be on deploying innovative solutions that deliver value to customers across Lagos.”
Sheri Adegbenro, representing Excel Distribution Company Limited, added: “This licence is both a privilege and a responsibility. Excel is committed to partnering with LASERC to strengthen power distribution in the State and deliver real improvements to customers.”
The milestone firmly aligns with Lagos State’s vision of creating a fair, competitive, and sustainable electricity market, ensuring affordable and reliable power for all residents.
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How is the outright trashing of Ikeja Electric and Eko Electric, and replacement with new players IE Electric and Excel Electric going to promote or perhaps enhance quality, stable power delivery to consumers in Lagos region?
This development appear more like a business war, else effort should have been on actualizing 100% uninterupted power generation and delivery in thr region.
Power grneration is the actual problem of the country at large, distribution will take shape when generated power is sufficient.
Changing electricity distribution players iin this era of darkness distribution in Nigeria is more of changing the clothes of a patient with a damaged body organs. Let the patient heal first, before you wear damask for the patient.