Lagos residents are set to experience a new phase in electricity supply as the Lagos State Electricity Regulatory Commission (LASERC) officially handed distribution licences to two new companies—Excel Distribution Company Limited and IE Energy Lagos Limited.
The two firms will now oversee electricity distribution across the state, taking over from Eko Electricity Distribution Plc (Eko Disco) and Ikeja Electric Plc, which ceased operations as licensed distributors on Thursday, October 2, 2025.
The landmark event, described as a “defining moment” in Lagos’ power sector, took place during a licence presentation ceremony led by LASERC Chairman, Engr. Abimbola Odubiyi, alongside Commissioners and senior officials of the agency.
Folake Soetan signed on behalf of IE Energy Lagos, while Sheri Adegbenro represented Excel Distribution Company Limited.
Engr. Odubiyi, while presenting the licences, praised Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for backing the state’s electricity reforms.
“This is another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” he said. “LASERC remains committed to independence, transparency, and service to Lagosians.”
Dr. Fouad Animashaun, LASERC’s Chief Executive Officer, added that the move demonstrates the state’s commitment to private sector participation, competition, and innovation.
“By expanding competition, Lagosians can look forward to better access, improved reliability, and more affordable electricity supply,” he assured.
Representatives of the two new operators pledged to deliver improved services.
Kola Adeshina, speaking for IE Energy Lagos, promised to introduce innovative solutions for customers, while Sheri Adegbenro of Excel Distribution assured residents of better service delivery and stronger collaboration with LASERC.
The development aligns with the Lagos State Electricity Policy, which seeks to create a fair, competitive, and sustainable electricity market that guarantees reliable power supply for households, businesses, and communities across the state.
For many residents, the takeover sparks fresh hope for a brighter and more dependable power supply across Lagos neighborhoods.Power Shift in Lagos: New Firms Take Over Electricity Distribution
2 Comments
Congratulations to Laserg on their take over the electricity supply in Lagos state I'm very happy to see and I wish them to help us out from the poor services we experience past before
ReplyDeleteWe need tariff review it is giving common citizens financial burden. It is also collapsing businesses. My business included. This affected people working for me as I have to let them go. Also from research work I did many shared compound like public house kept fighting everytime thinking one person uses light more than another. Until the tariff review unemployment level will not be reduced. Until then many people will not be happy with electricity company for financial burden. Though not supported and strongly against electricity theft but the major cause of electricity theft is high electricity tariff.
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