The Lagos State Electricity Regulatory Commission (LASERC) has issued new distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, formally transferring electricity distribution operations from Eko Electricity Distribution Plc and Ikeja Electric Plc.

The development marks a significant milestone in the implementation of the Lagos State Electricity Policy and the state’s push to expand a competitive electricity market.

At a licence presentation ceremony held on Thursday, October 2, 2025, LASERC Commissioners led by Chairman, Engr. Abimbola Odubiyi, handed 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 issuance, Eko Disco and Ikeja Electric have ceased to exist as distribution licensees within the Lagos Electricity Market. Excel and IE Energy Lagos are now the officially recognized operators.

Odubiyi described the transition as “another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” adding that LASERC would continue to uphold independence, transparency, and service delivery to residents. He commended Governor Babajide Sanwo-Olu, the Lagos State House of Assembly, and the Ministry of Energy and Mineral Resources for their role in strengthening electricity regulation.

LASERC Chief Executive Officer, Dr. Fouad Animashaun, said the move underscores the state’s commitment to private sector participation and improved service.

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

Representatives of the new companies pledged to deliver improved service across Lagos. Kola Adeshina, speaking for IE Energy, promised the deployment of innovative solutions to enhance customer experience, while Sheri Adegbenro of Excel Distribution Company assured residents of stronger collaboration with LASERC to guarantee efficiency.

Officials noted that the transition aligns with the state government’s vision of building a fair, competitive, and sustainable electricity market capable of delivering reliable power to all Lagosians.