The Lagos State Electricity Regulatory Commission (LASERC) has officially granted electricity distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, signaling a major shift in the state’s electricity distribution landscape.

These companies have now taken over the distribution operations previously managed by Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively.

According to a statement by Fouad Animashaun, Executive Commissioner and Chief Executive Officer of LASERC, the licence presentation ceremony took place on Thursday, October 2, 2025, at the Radisson Blu Hotel, Ikeja, bringing together key stakeholders including representatives of the new licensees and members of the LASERC Commission.

Present at the event were Engr. Abimbola Odubiyi (Chairman), Dr. Fouad Animashaun (Executive Commissioner/CEO), 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). Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro represented Excel Distribution Company Limited.

With the issuance of these new licences, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased to exist as legally recognized distribution licensees within Lagos State. The responsibility of electricity distribution in the state now rests solely with Excel Distribution Company Limited and IE Energy Lagos Limited.

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In his remarks, LASERC Chairman Engr. Abimbola Odubiyi described the occasion as “a defining moment in Lagos’ journey towards a reliable and sustainable electricity market.”

He reiterated the Commission’s commitment to principles of independence, transparency, and service to the people of Lagos.

Odubiyi also expressed gratitude to critical stakeholders for their continued support, specifically recognising the contributions of Governor Babajide Sanwo-Olu, the Lagos State House of Assembly led by Speaker Rt. Hon. Mudashiru Obasa, the Power Committee Chairman Hon. Akanbi Oluwa, and the Honourable Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye.

Dr. Fouad Animashaun, LASERC’s CEO, highlighted the broader significance of the licence issuance, stating, “The issuance of these licences underscores our commitment to enabling private sector participation. By expanding competition, we are ensuring that Lagosians can look forward to better access, improved reliability, and affordable electricity supply.”

Representatives of the newly licensed companies expressed optimism about their future roles. Mr. Kola Adeshina of IE Energy emphasised the company’s dedication to “deploying innovative solutions that deliver value to customers across Lagos.”

Likewise, Sheri Adegbenro of Excel Distribution Company called the licence “both a privilege and a responsibility,” pledging to work closely with LASERC to enhance power distribution and improve customer service. (TVC NEWS)

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