Lagos has taken a major step towards a competitive electricity market by granting licences to two new power distributors.
New Electricity Distributors Take Charge In Lagos
LASERC awarded licences to Excel Distribution Company Limited and IE Energy Lagos Limited, replacing Eko and Ikeja Electric Plc.
At the ceremony, Folake Soetan signed for IE Energy, while Sheri Adegbenro signed for Excel, marking the formal transition.
With their new licences, both companies now manage electricity distribution across Lagos, aiming to improve reliability and customer service.
Commitment To Better Service
Read Also: Reforms Strengthen Economy As Naira Gains Global Competitiveness
LASERC Chairman Abimbola Odubiyi called the event “a defining step” and stressed the Commission’s commitment to transparency and public service.
Moreover, CEO Fouad Animashaun highlighted Lagos’ support for private sector participation, increasing competition and delivering affordable, reliable electricity.
The new licensees promised action.
Kola Adeshina said IE Energy will deploy innovative solutions to benefit electricity customers across Lagos.
Similarly, Sheri Adegbenro of Excel Distribution pledged to improve operational efficiency and provide higher service quality for residents.
Looking Ahead For Lagosians
Finally, LASERC stated the move aligns with Lagos State Electricity Policy, ensuring fair access through regulation and private sector involvement.
Consequently, Lagosians can expect more than new names on bills; they can look forward to reliable, customer-focused electricity services.
