Lagos Breaks Power Monopoly, Grants 14 Licences to New Firms as IE, EKDC Face New Rivals
- The Lagos State Electricity Regulatory Commission issues 14 new electricity licences to boost competition in the sector
- Major firms like Axxela and Isolo Power Gen receive approvals for significant power generation projects across Lagos
- LASERC plans new zonal offices to enhance customer service and simplify regulatory access for electricity consumers
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Lagos State Electricity Regulatory Commission (LASERC) has issued 14 new electricity licences and permits to private firms across power generation, metering services, independent distribution, and mini-grid operations, signalling a major shift in the state’s electricity market.
The development is expected to introduce stronger competition for major electricity distributors such as Ikeja Electric and Eko Electricity Distribution Company (EKDC), while also boosting power supply reliability for businesses and communities across Lagos.
Source: Getty Images
The licences were presented by Alexander Ogunbiyi, chairman of the Lagos State Electricity Regulatory Commission (LASERC), alongside the commission’s Chief Executive Officer, Temitope George, during its maiden stakeholder engagement held on May 7 in Lagos.
According to the commission in a statement on LinkedIn, the approvals are part of efforts to build a more transparent, competitive, and regulated electricity market in the state.
“This milestone underscores LASERC’s commitment to enforcing compliance, promoting investment confidence, and ensuring a structured electricity market that supports sustainable sector growth,” the commission said.
Major firms secure power generation approvals
Among the approved operators is Axxela Limited, which received approval for a 5.8-megawatt power project at Cadbury Nigeria Plc in Agidingbi, according to a report by TheCable.
Isolo Power Gen Limited also secured approval for a 9MW project along the Apapa-Oshodi Expressway in Isolo, while Isolo Power Supply Limited received an Independent Electricity Distribution Network (IEDN) licence for the same area.
In another major approval, Daybreak Power Solutions Limited secured multiple licences covering major industrial locations, including Seven-Up Bottling Company in Oregun, Crown Flour Mill in Ikorodu, Nigerdock FZE on Snake Island, Nigerian Breweries in Iganmu, Nigerian Bottling Company in Ikeja, and Promasidor Nigeria Limited in Isolo.
Metering and mini-grid expansion
The commission also approved New Hampshire Capital Limited as a meter asset provider, while GossLink Engineering Limited received licences for 330KV and below operations, including 400V vendor and importation services.
In the mini-grid segment, Enaro Energy Mini-Grid Limited was approved to interconnect mini-grid projects in Ishokan Phase 1 and Mercyland Phase 1, located in Ayobo-Ipaja.
LASERC said the approvals align with its regulatory responsibility to ensure accountability, maintain operational standards, and promote sustainable development across Lagos’ electricity value chain.
New zonal offices coming in Q3 2026
Speaking during the stakeholder engagement, George revealed that LASERC is establishing new zonal offices in Ikorodu, the Amuwo Odofin/Badagry axis, and the Sangotedo/Epe axis.
According to him, the offices are expected to become operational in the third quarter of 2026 and will help improve customer complaint resolution while making regulatory services more accessible to residents and businesses.
The move is seen as another step toward decentralising electricity regulation and improving service delivery in Nigeria’s commercial capital.
Source: UGC
With more private players entering the market, Lagos appears set for a new era of competition in power generation and distribution, one that could reshape electricity access for both industries and households.
Ikeja Electric announces power cuts in Lagos
Legit.ng earlier reported that Residents across Lagos may continue to face frustrating power outages as Ikeja Electric Plc officially confirmed fresh electricity cuts across parts of its network, blaming the development on reduced power allocation from the national grid.
In a notice shared on its official X account on Friday, May 1, the electricity distribution company appealed to customers for patience, saying the disruptions were beyond its immediate control and linked to a nationwide decline in power generation.
The company admitted that several communities under its network are currently experiencing supply constraints and apologised for the inconvenience.
Source: Legit.ng
