Lagos Unveils Names of Newly Licensed Electricity Generating, Metering Companies in The State
- Lagos State approves 14 new electricity companies to enhance competition and power reliability
- Major projects include Axxela’s 5.8MW power supply for Cadbury Nigeria and Daybreak’s expansions across industrial facilities
- LASERC plans new zonal offices to bolster customer service and decentralise electricity regulation
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 released the names of 14 newly licensed electricity companies approved to operate across power generation, metering services, independent distribution, and mini-grid operations in the state.
The move signals a major shake-up in Lagos’ electricity market and is expected to increase competition for dominant distribution companies such as Ikeja Electric and Eko Electricity Distribution Company, while improving power reliability for homes, industries, and businesses.
Source: Getty Images
The licences were formally presented during LASERC’s maiden stakeholder engagement held on May 7 in Lagos by the commission’s Chairman, Alexander Akinwunmi Ogunbiyi, alongside the Chief Executive Officer, Temitope George.
According to the commission, the approvals form part of efforts to create a transparent, competitive, and properly regulated electricity market in Africa’s largest city.
“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 power generation firms secure approval
Among the biggest beneficiaries is Axxela Limited, which secured approval for a 5.8-megawatt embedded power project at Cadbury Nigeria Plc in Agidingbi, Lagos.
Isolo Power Gen Limited also received approval for a 9MW power project located along the Apapa-Oshodi Expressway in Isolo. TheCable reported.
Its sister company, Isolo Power Supply Limited, was granted an Independent Electricity Distribution Network (IEDN) licence for the same axis, strengthening electricity supply in one of Lagos’ major industrial corridors.
Another major player, Daybreak Power Solutions Limited, secured multiple approvals covering major industrial facilities across the state.
Its licensed projects include power supply for Seven-Up Bottling Company in Oregun, Crown Flour Mill Limited in Ikorodu, Nigerdock FZE on Snake Island, Nigerian Breweries in Iganmu, Nigerian Bottling Company in Ikeja, and Promasidor Nigeria Limited in Isolo.
These industrial-focused approvals are expected to reduce dependence on unstable public grid supply and improve operational efficiency for manufacturers.
Metering and mini-grid expansion
In the metering segment, New Hampshire Capital Limited received approval as a Meter Asset Provider (MAP), a move expected to support faster meter deployment and reduce billing disputes for consumers.
GossLink Engineering Limited secured three separate licences covering 330KV and below operations, a 400V vendor licence, and a 400V importation licence.
This gives the company wider operational capacity across Lagos’ growing electricity infrastructure.
In the mini-grid segment, Enaro Energy Mini-Grid Limited was approved to operate interconnected mini-grid projects in Ishokan Phase 1 and Mercyland Phase 1 in Ayobo-Ipaja.
The approval is expected to improve electricity access for underserved communities and strengthen decentralised power supply.
New zonal offices to launch in Q3 2026
Speaking during the stakeholder engagement, LASERC CEO Temitope George also announced plans to establish new zonal offices in Ikorodu, the Amuwo Odofin/Badagry axis, and the Sangotedo/Epe corridor.
She said the offices are expected to become operational in the third quarter of 2026.
According to her, the new offices will improve customer complaint resolution and make regulatory services more accessible to residents and businesses across Lagos.
The move is seen as part of LASERC’s broader strategy to decentralise electricity regulation and strengthen service delivery in Nigeria’s commercial capital.
A new era of competition
With more private players entering the electricity market, Lagos appears set for a major transformation in power generation and distribution.
Industry analysts believe the increased competition could weaken long-standing monopolies, improve service quality, accelerate metering, and deliver more stable electricity to both industries and households.
Source: Getty Images
For businesses long burdened by unreliable power and high energy costs, the new licences may mark the beginning of a more competitive and efficient electricity future in Lagos.
Ikeja Electric announces power cuts in Lagos
Legit.ng earlier reported 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
