LASERC issues electricity licences to Excel and IE Energy, replacing Eko and Ikeja DisCos in Lagos, marking a new era in power distribution

LASERC issues electricity licences to Excel Distribution Company Limited and IE Energy Lagos Limited, formally replacing Eko Electricity Distribution Plc and Ikeja Electric Plc as the recognised distributors within the Lagos Electricity Market.

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The landmark development was sealed at a licence presentation ceremony held on Thursday, 2 October 2025, at the Radisson Blu Hotel, Ikeja.

The event gathered stakeholders, including the full board of the Lagos State Electricity Regulatory Commission (LASERC) and representatives of the new licensees.

Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro signed for Excel Distribution Company Limited, confirming their roles as the new operators.

With this handover, Eko and Ikeja DisCos have ceased to exist as licensed distributors in Lagos.

LASERC Chairman, Engr. Abimbola Odubiyi, hailed the move as “another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,”

pledging that the Commission would maintain independence, transparency and accountability.

Dr. Fouad Animashaun, Chief Executive Officer of LASERC, said the step underscores Lagos’ 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,” he stated.

Representatives of the new licensees also expressed optimism. Speaking for IE Energy, Mr. Kola Adeshina promised to deploy innovative solutions to enhance customer experience across Lagos.

Sheri Adegbenro, representing Excel Distribution Company, described the licence as “both a privilege and a responsibility,” pledging strong partnership with LASERC to improve power distribution.

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This milestone aligns with the Lagos State Electricity Policy, which aims to build a fair, competitive, and consumer-focused electricity market that delivers reliable energy to all residents.