Lagos Ushers in New Era of Power Supply as Two Firms Take Over Electricity Distribution

By Daniji Emmanuel
Lagos residents are set to witness a major transformation in electricity supply as the Lagos State Electricity Regulatory Commission (LASERC) officially issued new distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a new chapter in the state’s power sector.
The two companies have now taken over electricity distribution across Lagos State, succeeding Eko Electricity Distribution Plc (Eko Disco) and Ikeja Electric Plc, whose licences as distributors officially expired on Thursday, October 2, 2025.
The landmark event, held in Lagos, was described by stakeholders as a “defining moment” for the state’s electricity market. The presentation ceremony was led by LASERC Chairman, Engr. Abimbola Odubiyi, alongside Commissioners and senior officials of the agency.
During the event, Folake Soetan signed on behalf of IE Energy Lagos, while Sheri Adegbenro represented Excel Distribution Company Limited.
Engr. Odubiyi commended Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for their unwavering support toward electricity reform and market liberalization in the state.
“This is another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” Odubiyi stated. “LASERC remains committed to independence, transparency, and service to Lagosians.”
Also speaking, Dr. Fouad Animashaun, Chief Executive Officer of LASERC, said the new licences reflect the state’s vision to deepen private sector participation, encourage competition, and foster innovation in electricity distribution.
“By expanding competition, Lagosians can look forward to better access, improved reliability, and more affordable electricity supply,” he said.
Representatives of the two new operators expressed readiness to deliver improved services.
Kola Adeshina, speaking for IE Energy Lagos, promised to introduce innovative solutions for customer satisfaction, while Sheri Adegbenro of Excel Distribution Company assured residents of efficient service delivery and stronger collaboration with LASERC.
The development aligns with the Lagos State Electricity Policy, designed to establish a fair, competitive, and sustainable electricity market that guarantees reliable power supply to households, businesses, and industries.
For millions of Lagosians, this power shift symbolizes renewed hope for a future where stable electricity becomes not just an aspiration—but a daily reality.