The Lagos State Electricity Regulatory Commission (LASERC) has officially issued distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking their takeover of electricity distribution operations from Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively.

The development signals a major milestone in the implementation of the Lagos State Electricity Policy and the expansion of a competitive electricity market in the state.

At the licence presentation ceremony held on Thursday, October 2, 2025, LASERC Commissioners, led by Chairman Engr. Abimbola Odubiyi formally handed over the licences to the new operators.
Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro signed for Excel Distribution Company Limited.

With the new licences, Eko Disco and Ikeja Electric have ceased to exist as distribution licensees within the Lagos Electricity Market. Excel Distribution Company and IE Energy Lagos are now the legally recognized operators.
Odubiyi described the move as “another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” stressing that the Commission would continue to uphold independence, transparency, and service to Lagosians.

He also commended Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for their support in strengthening electricity regulation.

LASERC’s Chief Executive Officer, Dr. Fouad Animashaun, said the issuance of the licences underscores the state’s commitment to enabling private sector participation.

“By expanding competition, Lagosians can look forward to better access, improved reliability, and affordable electricity supply,” he said.

Representatives of the new firms pledged to improve power distribution across the state.

Kola Adeshina, speaking for IE Energy, said the company would deploy innovative solutions to deliver value to customers, while Sheri Adegbenro of Excel Distribution Company assured residents of improved service and stronger collaboration with LASERC.

Officials said the transition aligns with the state government’s vision of building a fair, competitive, and sustainable electricity market that ensures a reliable supply for all residents.