₦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.

Carazon:
The Anambra state professor is not aware of this development since he is busy checking the results of his opponents in the coming election

princepee:
nice one, way to go.
Anything that will replace those two is welcome.
We deserve better

FarahAideed:
These companies if traced will all be linked back to one greedy person ..Lagosian electricity users should prepare for massive exploitation and extortion , you will soon started hearing things like 500 Naira per KWH and annual metre License charge of 30k ..just watch

LegendHero:
What is you guys fixation on any news about Lagos?

Yhu must sha show your beeteerness and tears.

I heard they will be charging 25000 naira per KWH, with an annual license charge of 200k. All going to Boridillon so Tinubu can use the money to buy the 5 plot of land in Alaibo.

FarahAideed:
These companies if traced will all be linked back to one greedy person ..Lagosian electricity users should prepare for massive exploitation and extortion , you will soon started hearing things like 500 Naira per KWH and annual metre License charge of 30k ..just watch

DanseMacabre:
E sure me die say if you check behind the scenes, these new discos no go dey too far from Tinumbu.

naptu2:
🤣 Check out the comments above! They don't realise that the new companies are the old companies (I've explained this many times on this forum).

naptu2:
⚫️ Now states can remove the ridiculous subsidy.

nairalanda1:
Oga, let's end this your marxist jokes and commentary

At the moment, discos cannot raise prices on most of their consumers. Only on band A , and even then it is not up to 300 naira

As a result, disco profits are at 1trillion naira annually. That seems like a lot, until you realize that we need 10 trillion naira (I am quoting the experts by the way) annually to fix power to everyne's satisfaction.

Right now, less than 20% of consumers are paying market price tarrif, most are paying subsidized tarrif, and even those that pay subsidised tarrif, many underpay or don't pay at all.

Can you run a business where you are making profit from less than 20% of your consumers and losing money on the rest.

Call me oppressor, but what you are indirectly campainging for is for government to take loans to subsidize power. That is what the USSR was doing to keep the lights on at cheap prices, until their economy was in severe debt by the late 1980's. They were also guaranteeing subsides for their satellite nations and allies. And they were borrowing from the same imperial capitalist west.

Call me oppressor, but , and forget about tinubu and apc, I have known this since GEJ privatized power, and I wish he had had a backbone....and allowed deregulation...it is going to cost a lot of money to fix our power sector. And most of it is going to come from our pockets.

Or how did we get the GSM/Internet network that enables me to type this from home, instead of going to internet cafe back in the day...it wasn't by MTN and co charging N2 for subscription in 2003!

madridguy:
Which subsidy again oga? Are we going to be paying more now for power?

FarahAideed:
These companies if traced will all be linked back to one greedy person ..Lagosian electricity users should prepare for massive exploitation and extortion , you will soon started hearing things like 500 Naira per KWH and annual metre License charge of 30k ..just watch

FarahAideed:
Because it's the former capital city and commercial capital of Nigeria

naptu2:
https://www.tvcnews.tv/laserc-licenses-new-discos-replaces-eko-ikeja-electric/

Ttalk:
This thread should be strictly for constructive discussion and not for tribal or unsubstantiated insinuation and meaningless conjecture.

Hater and bigot should stay away and not intrude into what doesn't concern you.

Mod should do the needful and delete any post that will derail this beautiful thread

FarahAideed:
At 209 Naira peor KWh , I am already paying more than half of American states for a KWH a

nairalanda1:
Oga, let's end this your marxist jokes and commentary

At the moment, discos cannot raise prices on most of their consumers. Only on band A , and even then it is not up to 300 naira

As a result, disco profits are at 1trillion naira annually. That seems like a lot, until you realize that we need 10 trillion naira (I am quoting the experts by the way) annually to fix power to everyne's satisfaction.

Right now, less than 20% of consumers are paying market price tarrif, most are paying subsidized tarrif, and even those that pay subsidised tarrif, many underpay or don't pay at all.

Can you run a business where you are making profit from less than 20% of your consumers and losing money on the rest.

Call me oppressor, but what you are indirectly campainging for is for government to take loans to subsidize power. That is what the USSR was doing to keep the lights on at cheap prices, until their economy was in severe debt by the late 1980's. They were also guaranteeing subsides for their satellite nations and allies. And they were borrowing from the same imperial capitalist west.

Call me oppressor, but , and forget about tinubu and apc, I have known this since GEJ privatized power, and I wish he had had a backbone....and allowed deregulation...it is going to cost a lot of money to fix our power sector. And most of it is going to come from our pockets.

Or how did we get the GSM/Internet network that enables me to type this from home, instead of going to internet cafe back in the day...it wasn't by MTN and co charging N2 for subscription in 2003!

Ttalk:
Your argument seems not to be in line with reality.

Two of your points are entirely ridiculous.

1 You claim Nigerians don't want to pay for power. That is not true, examples abound where you see people go as far as linking 33 kva where they could get enough regular light, these people don't complain about the cost and the bill they will pay provided they get light

FarahAideed:
These companies if traced will all be linked back to one greedy person ..Lagosian electricity users should prepare for massive exploitation and extortion , you will soon started hearing things like 500 Naira per KWH and annual metre License charge of 30k ..just watch