The Lagos State Electricity Regulatory Commission (LASERC) has formally issued electricity distribution licenses to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a significant transformation in the state’s electricity distribution framework.
These firms have now assumed control of the distribution functions that were formerly overseen by Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively.As noted by Fouad Animashaun, the Executive Commissioner and Chief Executive Officer of LASERC, the license presentation event was held on Thursday, October 2, 2025, at the Radisson Blu Hotel, Ikeja, convening key stakeholders including representatives from the new licensees and members of the LASERC Commission.
Among those present 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 represented IE Energy Lagos Limited, while Sheri Adegbenro stood for Excel Distribution Company Limited. With the granting of these new licenses, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased to function as legally acknowledged distribution licensees in Lagos State.
The task of electricity distribution within the state is now entirely entrusted to Excel Distribution Company Limited and IE Energy Lagos Limited. Commenting on the occasion, LASERC Chairman Engr. Abimbola Odubiyi characterized the moment as “a pivotal juncture in Lagos’ quest for a dependable and enduring electricity market.”He reaffirmed the Commission’s dedication to principles of autonomy, clarity, and service to the populace of Lagos.
Odubiyi also acknowledged vital stakeholders for their ongoing support, particularly commending the efforts of Governor Babajide Sanwo-Olu, the Lagos State House of Assembly led by Speaker Rt. Hon. Mudashiru Obasa, the Chairman of the Power Committee Hon. Akanbi Oluwa, and the Honourable Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye.Dr. Fouad Animashaun, LASERC’s CEO, underscored the broader implications of the license issuance, remarking, “The release of these licenses emphasizes our commitment to fostering private sector involvement. By boosting competition, we ensure that Lagosians can anticipate better accessibility, enhanced reliability, and cost-effective electricity supply.”
Representatives from the newly licensed firms expressed hope concerning their upcoming responsibilities. Mr. Kola Adeshina of IE Energy highlighted the company’s commitment to “implementing innovative solutions that create value for customers throughout Lagos.”Similarly, Sheri Adegbenro of Excel Distribution Company referred to the license as “both an honor and a duty,” promising to collaborate closely with LASERC to refine power distribution and elevate customer service.