Private investors move in as Isolo gets approval for 9MW power project that could end blackouts

• Isolo Power Gen Limited has received approval to develop a 9MW embedded power project in Lagos.

• The project aims to provide more stable, potentially 24-hour electricity to Isolo and nearby areas through a local distribution network.

• The approval reflects growing investment and momentum in Lagos’s independent electricity market reforms.

The approval was issued by the Lagos State Electricity Regulatory Commission, known as LASERC, as part of its latest licensing round. As a result, Isolo may be closer to round-the-clock electricity than it has ever been.

Isolo Power Gen is one of 14 companies cleared in this round but stands out as the only operator approved under the embedded generation category for a 9MW project, a framework that allows electricity to be generated and distributed directly within a local network, cutting out the inefficiencies of the national grid.

The facility will be developed along the Apapa-Oshodi Expressway in Isolo and is designed to supply power to Isolo and its surrounding areas through a localised distribution system. 

If completed and fully operational, residents and businesses in the corridor could have access to 24-hour electricity supply, a prospect that remains out of reach for most Nigerians.

Ownership of the project is structured across four entities: Westfield Assets Limited and Camara Exim Limited, both registered in the British Virgin Islands, alongside Nigerian conglomerate Chellarams Plc and businessman Suresh Chellaram. 

The international capital backing points to growing investor confidence in Lagos's emerging state-level electricity market.

That market has been taking shape steadily since the 2023 constitutional reform that granted states authority to regulate and operate their own electricity systems. 

Lagos moved quickly. Governor Babajide Sanwo-Olu inaugurated the LASERC board in March 2026, formally activating oversight of generation, distribution, and tariffs within the state. 

Supporting institutions including the Lagos State Electrification Agency, an Independent System Operator, and a Power Enforcement Unit have also been established under the framework.

Isolo Power Gen's approval is one concrete outcome of that regulatory architecture beginning to function. With 14 licensees now cleared across this single round alone, the pace at which private capital is entering Lagos's power sector suggests the decentralisation experiment is gaining real momentum.

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