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Lagos residents are set for a significant transformation in electricity distribution as the Lagos State Electricity Regulatory Commission (LASERC) officially issued new distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited.
The two companies will now oversee power distribution across the state, succeeding Eko Electricity Distribution Plc (Eko Disco) and Ikeja Electric Plc, whose licences expired on Thursday, October 2, 2025.
The landmark licensing ceremony, held in Lagos, was hailed by industry stakeholders as a major milestone in the state’s quest for efficient and sustainable electricity delivery. The event was presided over by LASERC Chairman, Engr. Abimbola Odubiyi, alongside Commissioners and senior agency officials.
During the signing ceremony, Folake Soetan represented IE Energy Lagos, while Sheri Adegbenro signed on behalf of Excel Distribution Company.
Commending the Lagos State Government for its progressive role in 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 Lagos residents.”
Dr. Fouad Animashaun, Chief Executive Officer of LASERC, emphasized that the issuance of the new licences reflects the government’s vision to strengthen private sector participation, enhance competition, and encourage innovation in electricity distribution.
“By opening up the space for competition, Lagosians can expect better access, greater reliability, and more affordable power supply,” he stated.
Both firms pledged to meet the expectations of consumers. Kola Adeshina, speaking on behalf of IE Energy Lagos, vowed to implement innovative solutions that will improve customer experience, while Sheri Adegbenro of Excel Distribution Company assured residents of efficient service delivery and close collaboration with LASERC.