Lagos State has awarded Elektron Energy Development Strategies Limited an electricity generation licence, clearing the company to produce power within the state as its flagship Victoria Island facility heads toward a December 2026 launch.
The Lagos State Electricity Regulatory Commission issued the licence after reviewing Elektron’s technical, operational and regulatory standing, the regulator said.
The approval fits into a wider push by the state to loosen the national grid’s grip on electricity supply, draw in private capital and widen access to reliable power for the commercial districts that anchor its economy.
“This licence represents an important step forward for Elektron and for the businesses and communities we serve,” said Tola Talabi, the company’s chief executive officer. “It affirms Lagos State’s confidence in our platform and gives us the regulatory foundation to continue delivering the kind of dependable, purpose-built power infrastructure that Nigeria’s commercial and industrial ecosystems increasingly require.”
Talabi called reliable, professionally managed power central to how Lagos will grow, adding that Elektron intends to keep building toward that goal.
