LASERC issues 14 new electricity licences to boost competition in Lagos power market
By Aboki Forex —
The Lagos State Electricity Regulatory Commission (LASERC) has issued 14 new electricity licences and permits to private firms. The approvals cover power generation, metering services, independent distribution, and mini-grid operations. This marks a major shift in Lagos’ electricity market.
The development is expected to intensify competition for major distributors like Ikeja Electric and Eko Electricity Distribution Company (EKDC). It should also improve power supply reliability for businesses and communities across Lagos.
Chairman of LASERC, Alexander Ogunbiyi, and Chief Executive Officer, Temitope George, presented the licences during the commission’s maiden stakeholder engagement on May 7 in Lagos. According to a statement on LinkedIn, the approvals are part of efforts to build a transparent, competitive, and regulated electricity market.
“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 players get approvals
Axxela Limited received approval for a 5.8-megawatt power project at Cadbury Nigeria Plc in Agidingbi. Isolo Power Gen Limited secured approval for a 9MW project along the Apapa-Oshodi Expressway in Isolo. Isolo Power Supply Limited also got an Independent Electricity Distribution Network (IEDN) licence for the same area.
Daybreak Power Solutions Limited secured multiple licences covering major industrial locations. These include 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.
New Hampshire Capital Limited was approved as a meter asset provider. 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 in Ayobo-Ipaja.
New zonal offices coming
Speaking at the event, Temitope George revealed that LASERC is establishing new zonal offices in Ikorodu, the Amuwo Odofin/Badagry axis, and the Sangotedo/Epe axis. The offices are expected to become operational in the third quarter of 2026. They will help improve customer complaint resolution and make regulatory services more accessible to residents and businesses.
The move is part of efforts to decentralise electricity regulation and improve service delivery in Nigeria’s commercial capital.
With more private players entering the market, Lagos appears set for a new era of competition in power generation and distribution. This could reshape electricity access for industries and households alike.