In a landmark shift for Nigeria’s power sector, Lagos State has officially assumed full regulatory control of its electricity market, following the handover of oversight from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State Electricity Regulatory Commission (LASERC).
The formal announcement was made during a significant event held at NERC’s headquarters in Abuja, attended by Lagos State’s Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye. This move is in accordance with the Electricity Act 2023 and the recently amended Constitution, which authorize states to regulate electricity markets within their borders.
With this handover, Lagos joins a select group of Nigerian states that have achieved full autonomy over their electricity sectors—an important milestone in the decentralization of the national power industry.
As part of the transition, Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric Plc (IE) are mandated to establish new subsidiaries—EKEDP SubCo and IE SubCo—to handle electricity supply and distribution solely within Lagos State. These subsidiaries must be registered within 60 days from December 5, 2024, and must secure operating licenses from LASERC. The entire transition process, including regulatory and operational adjustments, is expected to conclude by June 4, 2025.
Speaking at the ceremony, Mr. Ogunleye commended NERC’s forward-thinking leadership in facilitating the transition and reiterated Lagos State’s commitment to providing better electricity services. He emphasized the vast opportunities the new structure offers—allowing the state to design policies tailored to its unique challenges, boost service delivery, and attract private sector investment to drive innovation and economic growth.
This development marks the beginning of a new chapter in electricity governance for Lagos. With LASERC now leading regulatory efforts, the state is well-positioned to deliver more efficient, reliable, and responsive electricity services to both its residents and the government.
