₦airaland Forum

LASERC Licenses New DisCos, Replaces Eko, Ikeja Electric

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.

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.

CoronaVirusPro:
Those teams need to go for a medical check up immediately.

Sporting inside that smelling Lagoon 🤮 🤮🤮

E1 Lagos: Brazilian team win lagos electric boat race

By Abiodun Adewale
6th October 2025

Team Brazil capped off an impeccable weekend in Nigeria with a thrilling win at the E1 Lagos GP, seizing the maiden race in Africa to claim their first win in the all-electric powerboat series on Sunday, PUNCH Sports Extra reports.

Powered by their pole position from Saturday’s qualifying, Team Brazil duly capitalised from the group races to the final, with Timmy Hansen delivering a flawless performance on the water.

They had the fastest time in the practice session and topped the qualifying race on Saturday before winning the final on Sunday.

They beat Team Blue Rising, owned by Indian cricket icon Virat Kohli, to second place while Team Drogba Global Africa, which is co-owned by Ivory Coast football legend and former Chelsea striker Didier Drogba and Gabrielle Lemaire, finished third.

Team Brazil got 38 points for their win, taking their tally up to 89 points. However, they are still far off from the title in seventh position, ahead of the final race of the season next month in Miami.

“We came to Lagos and we had a fantastic time. It is important with the race format to have the best starting lane, so you want to start on the inside, and we had it. Thanks to the team, I had a brilliant start, and it was smooth sailing,” Hansen told our correspondent.

There was no place on the podium for suspects Team Rafa and Team Brady, who have been in a tussle at the top of the championship standings ahead of the E1 Lagos GP.

However, Team Brady remains top of the championship standings despite finishing fourth. Their 19 points from an electrifying weekend in Lagos take them up to 154 points.

They are still separated from Team Rafa, owned by tennis legend Rafael Nada by three points. Piloted by Cris Lazarraga and Tom Chiappe, Team Rafa finished fifth in Lagos with 17 points, taking their season’s tally to 151points.

Kohli’s Blue Rising remains third in the standings with 145 points.

The E1 is an all-electric powerboat race which began last year in Jeddah, Saudi Arabia, and Lagos became the first city in Africa to host the championship.

The E1 Lagos GP was also the penultimate race of the season, setting the tone for the championship battle ahead of the season finale in Miami next month.

Speaking to journalists during the championship on Sunday, the Governor of Lagos State, Babajide Sanwo-Olu, described the first-of-its-kind event in Africa as a demonstration of the state’s commitment to innovation and clean energy.

“Hosting the E1 series is not just about sports, it is about innovation, environmental responsibility, and putting Lagos on the global map for future-focused development,” Sanwo-Olu said.