Lagos residents are poised for a new era in electricity supply as the Lagos State Electricity Regulatory Commission, LASERC, has officially granted fresh distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited.
The two firms will now handle electricity distribution across Lagos, taking over from Eko Electricity Distribution Plc (Eko Disco) and Ikeja Electric Plc, whose licences expired on Thursday, October 2, 2025.
The historic licensing ceremony in Lagos was described by stakeholders as a turning point for power delivery in Nigeria’s commercial capital. The event was led by LASERC Chairman, Engr. Abimbola Odubiyi, alongside Commissioners and senior officials of the agency.
At the signing, Folake Soetan represented IE Energy Lagos, while Sheri Adegbenro signed on behalf of Excel Distribution Company.
Commending the Lagos State Government for its role in driving power sector reforms, Odubiyi said: “This marks another defining moment in Lagos’ pursuit of a reliable and sustainable electricity market. LASERC remains dedicated to independence, transparency, and service to Lago residents.”
In his remarks, Dr Fouad Animashaun, Chief Executive Officer of LASERC, stressed that the new licences reflect the state’s vision of deepening private sector involvement, boosting competition, and driving innovation in electricity distribution.
“By opening up the space for competition, Lagosians can expect better access, greater reliability, and more affordable power supply,” he said.
Both operators pledged readiness to deliver on their mandates. Kola Adeshina, speaking for IE Energy Lagos, promised to roll out innovative solutions to enhance customer experience, while Sheri Adegbenro of Excel Distribution Company assured residents of efficient service and stronger collaboration with LASERC.
Lagos replaces Eko Disco, Ikeja Electric with two new power distributors