- In line with the directive, Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric Plc (IE) have been instructed to establish subsidiaries, EKEDP SubCo and IE SubCo, respectively, to manage electricity supply and distribution within Lagos State exclusively.
- This historic decision aligns with both the Electricity Act of 2023 and the amended Constitution of the Federal Republic of Nigeria, empowering states to regulate intrastate electricity markets.
- Lagos becomes one of the few states in Nigeria to gain full regulatory control of its electricity market, marking a significant milestone in the decentralization of the nation’s power sector.
In a groundbreaking development for Nigeria’s electricity sector, Lagos State has officially taken charge of its electricity market as regulatory oversight shifts from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State Electricity Regulatory Commission (LASERC).
Eko Hot Blog gathered that the formal announcement was made at a momentous event held at NERC’s headquarters in Abuja, with Biodun Ogunleye, Lagos State’s Commissioner for Energy and Mineral Resources, in attendance.
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This historic decision aligns with both the Electricity Act of 2023 and the amended Constitution of the Federal Republic of Nigeria, empowering states to regulate intrastate electricity markets.
As a result, Lagos becomes one of the few states in Nigeria to gain full regulatory control of its electricity market, marking a significant milestone in the decentralization of the nation’s power sector.
In line with the directive, Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric Plc (IE) have been instructed to establish subsidiaries, EKEDP SubCo and IE SubCo, respectively, to manage electricity supply and distribution within Lagos State exclusively.
These subsidiaries must be incorporated within 60 days from December 5, 2024, and must obtain the necessary licenses from LASERC.
The entire transition process, encompassing all essential regulatory and operational changes, is expected to be finalized by June 4, 2025.
During the event, Commissioner Biodun Ogunleye commended NERC for its forward-thinking leadership in facilitating this significant transition.
He also reaffirmed Lagos State’s readiness to deliver enhanced electricity services, emphasizing the tremendous opportunities this transfer presents for the state to tailor policies to its specific needs, improve service delivery, and encourage private sector investments to drive innovation and economic growth.
The shift in regulatory oversight marks a new chapter for electricity governance in Lagos State.
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With LASERC in a leadership role, the state government is well-positioned to supervise operations more efficiently, ensuring responsive and effective electricity distribution that meets the demands of its residents.
