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Mainland

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uuid000goyq

Namestring
Mainland
Legal namestring
The Mainland Companies LLC
Company typeenum
Private
Founded yearint
2011
Descriptiontext

Mainland Companies (The Mainland Companies LLC) is a Nashville, Tennessee-based commercial real estate development firm founded in 2011 by CEO Ken Larish. The firm operates three branded development platforms: Mainland Urban (high-density, mixed-use urban core projects including ground-up and adaptive reuse), Mainland Signature (bespoke luxury boutique developments in Nashville), and Mainland Retail (single-tenant retail and medical build-to-suit, neighborhood shopping centers, and assisted living/memory care facilities, originated via the 2017 merger of Hart Red into Mainland). A fourth offering, Development Services, provides consultative engagement — underwriting, third-party studies, capital formation, design, project management, and disposition — for external owners, operators, and investors lacking in-house development capability.

Mainland's revenue model combines two streams: (1) professional services fees for Development Services engagements and (2) one-time economics from real estate development, stabilization, and disposition across the firm's own principal deals. Pricing is quote-based and project-specific, not publicly disclosed. The go-to-market is consultative enterprise field sales with senior principals involved throughout each engagement, supported by a referral-driven marketing motion and direct outreach via the firm's website and LinkedIn presence. The customer base is enterprise — including operators such as LeBlanc + Smith (hospitality), Tractor Supply Co., Fast Pace Health, Whataburger, Mako Express, and The Learning Experience — across hospitality, retail, healthcare, restaurant, automotive, and education verticals.

Operationally, Mainland is lean by design (11-50 employees), focused exclusively on development with no brokerage, construction, or property management arms. The leadership team includes principals from Goldman Sachs subsidiary Archon Group, Southern Land Company, and Hart Red Partners, with collective experience exceeding $3 billion in assets, equity, and loans developed or managed across 35 million+ square feet. The firm executes programmatic developments coast to coast with primary emphasis on the Southeast U.S. and high-barrier-to-entry Nashville submarkets. No public AI/technology platform is offered; the investor portal runs on Juniper Square. The company is privately held with no disclosed institutional or PE backing.

Short descriptiontext

Mainland Companies is a Nashville-based commercial real estate development firm serving owners, operators, and investors through four platforms: Mainland Urban (mixed-use urban core), Mainland Signature (luxury boutique), Mainland Retail (single-tenant retail, medical, senior living), and Development Services (consultative underwriting, capital formation, and project management).

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersNashville, United States
HQ citystring
Nashville
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
commercial real estate development, mixed-use development, capital formation services, retail real estate development, urban infill development
Industry3 codes
1Land & Development Site Brokerage
CodeBPAJABAGPrimaryYes
2Mixed-Use Property Management
CodeBPAJAGAEPrimaryNo
3Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities)
CodeIMAFABALPrimaryNo
NAICS code2 codes
  • Land Subdivision2372
  • Nonresidential Building Construction2362
SIC code1 code
  • Land Subdividers & Developers (No Cemeteries)6552
Product category
Commercial Real Estate Development
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model2 records
1Development Services Fees
TypeProfessional Services
Description

Mainland earns fees for consultative development services including initial discovery, use type analysis, capital formation, and project management for owners, operators, and investors.

mainlandcompanies.com
2Real Estate Development
TypeOne Time License
Description

Mainland develops commercial real estate assets across multiple product types including mixed-use urban infill, single and multi-tenant retail, medical developments, and programmatic net lease rollouts. Revenue is generated through asset development, stabilization, and disposition.

mainlandcompanies.com
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components4 values
Personnel, Operations, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 3 records shown
1Mainland Signature Collection
Description

Bespoke, boutique development platform curating one-of-a-kind developments. Exclusive, market leading, and luxurious urban luxury offerings in Nashville.

mainlandcompanies.com
+2 more records
Core offering1 text field

Mainland is a Nashville-based commercial real estate development firm that partners with property owners, operators, and investors to identify the highest and best use of land and execute full-cycle development. Their work spans mixed-use urban infill, adaptive reuse, single-tenant retail, medical/specialized healthcare, and hospitality projects, delivered through consultative services covering underwriting, design, capital formation, project management, construction, stabilization, and disposition.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 4 values shown
  • Over $3 billion in assets, equity and loans developed or managed
+3 more records
Product overview1 text field

Mainland Companies is a Nashville-based real estate development firm offering three distinct development sub-brands: Mainland Urban (high-density urban core and mixed-use developments), Mainland Signature (luxury boutique and bespoke projects), and Mainland Retail (single-tenant retail, medical, and assisted living facilities). The company also provides comprehensive Development Services that encompass consulting from initial discovery through capital formation and project management. Together, these offerings enable Mainland to serve as a full-service development partner for clients across multiple property types and markets.

Product and service4 records
1Mainland Urban
CategorySub-brand / Development Platform
Description

Development platform specializing in best-in-class urban core projects, including high-density, mixed-use entitlements and industry-leading design across ground-up development, adaptive reuse, residential, hospitality, and office.

2Mainland Signature
CategorySub-brand / Development Platform
Description

Mainland's bespoke, boutique development platform curating one-of-a-kind, exclusive, market-leading luxury urban offerings, primarily in Nashville.

3Mainland Retail
CategorySub-brand / Development Platform
Description

National real estate development platform focused on single-tenant retail and medical developments, neighborhood shopping centers, non-anchored specialty retail spaces, and market-leading assisted living and memory care facilities.

4Development Services
CategoryProfessional Services
Description

Consultative development services partnering with owners, operators, and investors to achieve the highest and best use of land through best-in-class underwriting, third-party studies, financial analysis, capital formation, and project management.

Scale indicator5 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierCoreTypeStrategic or Co-development Partner
Description

LeBlanc + Smith, the New Orleans based creators of CHLOE (one of New Orleans' top boutique hotel and restaurant destinations), collaborated with Mainland to solidify a CHLOE Nashville site, develop a plan, and navigate the Nashville market. Two adjacent historic 1920s Colonial buildings were secured, a partnership and financial model developed, and Nashville architecture firms were enlisted to execute the vision. Mainland guided the project capital structure, legal, planning, permitting, obtained local debt financing and drove an oversubscribed capital raise.

Strategic tierCoreTypeStrategic or Co-development Partner
Description

An internationally recognized public entertainment venue and brand in pursuit of a large Nashville location collaborated with Mainland to source land, conceptual building design, cost model, plan review and approval, capitalization, and full execution. Mainland secured prime land in one of the USA's most sought-after entertainment districts and collaborated on a code-compliant, innovative, and architecturally significant design with strategic underwriting and capitalization. Launch planned for Fall 2025.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Southeast-focused commercial real estate development and investment firm operating in mixed-use, multifamily, and retail. Comparable regional developer profile to Mainland.

TypeDirect peer
Description

Nashville-based real estate investment, development, and property management firm active in multifamily, mixed-use, and commercial assets across the Southeast. Comparable scale and product mix to Mainland Urban.

TypeDirect peer
Description

Memphis-based commercial real estate developer with a long track record across office, retail, and mixed-use in the Mid-South and Southeast. Comparable founder-led, multi-generational developer profile to Mainland.

TypeDirect peer
Description

Charlotte-based regional real estate developer with mixed-use, multifamily, and retail projects across the Carolinas and Southeast. Mainland COO James Lennon previously worked at Crosland's Nashville office, and the firms operate in similar product types and geographies.

TypeDirect peer
Description

Nashville-based commercial real estate investment and development firm with mixed-use, office, and retail projects. Comparable size and Southeast focus, often pursuing adjacent Nashville submarkets to Mainland.

TypeDirect peer
Description

Nashville-headquartered retail real estate developer and acquirer specializing in single-tenant net lease and shopping centers across the Southeast and nationally. Direct overlap with Mainland Retail's build-to-suit and shopping center activities.

TypeDirect peer
Description

Tennessee-based mixed-use and master-planned community developer. Highly comparable to Mainland: same Southeast U.S. footprint, similar urban infill and mixed-use expertise, and a direct talent link — Mainland CFO Don Caire was previously CIO of Southern Land.

TypeBroad incumbent
Description

Global, vertically integrated real estate developer with mixed-use, office, and retail projects nationwide. Operates as a broad incumbent in the same urban development category as Mainland Urban, though at vastly larger scale.

TypeBroad incumbent
Description

Major national commercial real estate developer with a strong Southeast U.S. presence across office, industrial, retail, and mixed-use. Competes for similar institutional capital and large mixed-use mandates as Mainland, but at much larger scale.

TypeOthers
Description

Global real estate investment and advisory firm. Not a direct competitor for development mandates but a relevant capital-markets intermediary, investor, and advisor that Mainland interacts with for capital formation and dispositions.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers7 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles15 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Mainland

Commercial Real Estate Developmentmainlandcompanies.com

Mainland Companies is a Nashville-based commercial real estate development firm serving owners, operators, and investors through four platforms: Mainland Urban (mixed-use urban core), Mainland Signature (luxury boutique), Mainland Retail (single-tenant retail, medical, senior living), and Development Services (consultative underwriting, capital formation, and project management).

What Mainland does

Mainland Companies (The Mainland Companies LLC) is a Nashville, Tennessee-based commercial real estate development firm founded in 2011 by CEO Ken Larish. The firm operates three branded development platforms: Mainland Urban (high-density, mixed-use urban core projects including ground-up and adaptive reuse), Mainland Signature (bespoke luxury boutique developments in Nashville), and Mainland Retail (single-tenant retail and medical build-to-suit, neighborhood shopping centers, and assisted living/memory care facilities, originated via the 2017 merger of Hart Red into Mainland). A fourth offering, Development Services, provides consultative engagement — underwriting, third-party studies, capital formation, design, project management, and disposition — for external owners, operators, and investors lacking in-house development capability.

Mainland's revenue model combines two streams: (1) professional services fees for Development Services engagements and (2) one-time economics from real estate development, stabilization, and disposition across the firm's own principal deals. Pricing is quote-based and project-specific, not publicly disclosed. The go-to-market is consultative enterprise field sales with senior principals involved throughout each engagement, supported by a referral-driven marketing motion and direct outreach via the firm's website and LinkedIn presence. The customer base is enterprise — including operators such as LeBlanc + Smith (hospitality), Tractor Supply Co., Fast Pace Health, Whataburger, Mako Express, and The Learning Experience — across hospitality, retail, healthcare, restaurant, automotive, and education verticals.

Operationally, Mainland is lean by design (11-50 employees), focused exclusively on development with no brokerage, construction, or property management arms. The leadership team includes principals from Goldman Sachs subsidiary Archon Group, Southern Land Company, and Hart Red Partners, with collective experience exceeding $3 billion in assets, equity, and loans developed or managed across 35 million+ square feet. The firm executes programmatic developments coast to coast with primary emphasis on the Southeast U.S. and high-barrier-to-entry Nashville submarkets. No public AI/technology platform is offered; the investor portal runs on Juniper Square. The company is privately held with no disclosed institutional or PE backing.

Mainland firmographics

Firmographics
Name
Mainland
Legal name
The Mainland Companies LLC
Website
https://mainlandcompanies.com
Company type
Private
Founded year
2011
Operating status
Operating
Headcount range
11–50 employees
Short description
Mainland Companies is a Nashville-based commercial real estate development firm serving owners, operators, and investors through four platforms: Mainland Urban (mixed-use urban core), Mainland Signature (luxury boutique), Mainland Retail (single-tenant retail, medical, senior living), and Development Services (consultative underwriting, capital formation, and project management).
Ownership category
akta.pro rank

Mainland industry classification

Industry
Product category
Commercial Real Estate Development
NAICS
Land Subdivision (2372), Nonresidential Building Construction (2362)
SIC
Land Subdividers & Developers (No Cemeteries) (6552)
akta.pro primary industry
Land & Development Site Brokerage (BPAJABAG)
akta.pro secondary industries
Mixed-Use Property Management (BPAJAGAE), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

  • Commercial real estate development
  • Mixed-use development
  • Capital formation services
  • Retail real estate development
  • Urban infill development

Where Mainland is headquartered

Location

Headquarters

HQ city
Nashville
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Mainland business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

  1. Development Services Fees: Mainland earns fees for consultative development services including initial discovery, use type analysis, capital formation, and project management for owners, operators, and investors.
  2. Real Estate Development: Mainland develops commercial real estate assets across multiple product types including mixed-use urban infill, single and multi-tenant retail, medical developments, and programmatic net lease rollouts. Revenue is generated through asset development, stabilization, and disposition.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Mainland product offering

Product offering

Core offering

Mainland is a Nashville-based commercial real estate development firm that partners with property owners, operators, and investors to identify the highest and best use of land and execute full-cycle development. Their work spans mixed-use urban infill, adaptive reuse, single-tenant retail, medical/specialized healthcare, and hospitality projects, delivered through consultative services covering underwriting, design, capital formation, project management, construction, stabilization, and disposition.

Product overview

Mainland Companies is a Nashville-based real estate development firm offering three distinct development sub-brands: Mainland Urban (high-density urban core and mixed-use developments), Mainland Signature (luxury boutique and bespoke projects), and Mainland Retail (single-tenant retail, medical, and assisted living facilities). The company also provides comprehensive Development Services that encompass consulting from initial discovery through capital formation and project management. Together, these offerings enable Mainland to serve as a full-service development partner for clients across multiple property types and markets.

Differentiator

Problem solved

Functional benefit

Brands

  • Mainland Signature Collection: Bespoke, boutique development platform curating one-of-a-kind developments. Exclusive, market leading, and luxurious urban luxury offerings in Nashville.
  • Mainland Urban
  • Mainland Retail

Products and services

  • Mainland Urban Development platform specializing in best-in-class urban core projects, including high-density, mixed-use entitlements and industry-leading design across ground-up development, adaptive reuse, residential, hospitality, and office.
  • Mainland Signature Mainland's bespoke, boutique development platform curating one-of-a-kind, exclusive, market-leading luxury urban offerings, primarily in Nashville.
  • Mainland Retail National real estate development platform focused on single-tenant retail and medical developments, neighborhood shopping centers, non-anchored specialty retail spaces, and market-leading assisted living and memory care facilities.
  • Development Services Consultative development services partnering with owners, operators, and investors to achieve the highest and best use of land through best-in-class underwriting, third-party studies, financial analysis, capital formation, and project management.

Quantifiable outcome

  • Over $3 billion in assets, equity and loans developed or managed
  • +3 more outcomes

Companies that use Mainland

Customer profile

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Mainland technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Mainland partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core.

  • LeBlanc + SmithcoreStrategic or Co-development PartnerLeBlanc + Smith, the New Orleans based creators of CHLOE (one of New Orleans' top boutique hotel and restaurant destinations), collaborated with Mainland to solidify a CHLOE Nashville site, develop a plan, and navigate the Nashville market. Two adjacent historic 1920s Colonial buildings were secured, a partnership and financial model developed, and Nashville architecture firms were enlisted to execute the vision. Mainland guided the project capital structure, legal, planning, permitting, obtained local debt financing and drove an oversubscribed capital raise.
  • International Entertainment Venue (unnamed)coreStrategic or Co-development PartnerAn internationally recognized public entertainment venue and brand in pursuit of a large Nashville location collaborated with Mainland to source land, conceptual building design, cost model, plan review and approval, capitalization, and full execution. Mainland secured prime land in one of the USA's most sought-after entertainment districts and collaborated on a code-compliant, innovative, and architecturally significant design with strategic underwriting and capitalization. Launch planned for Fall 2025.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Mainland competitors and assessment

Company assessment

Direct peers

  • Riverwood Real Estate Group: Southeast-focused commercial real estate development and investment firm operating in mixed-use, multifamily, and retail. Comparable regional developer profile to Mainland.
  • Elmington Capital Group: Nashville-based real estate investment, development, and property management firm active in multifamily, mixed-use, and commercial assets across the Southeast. Comparable scale and product mix to Mainland Urban.
  • Boyle Investment Company: Memphis-based commercial real estate developer with a long track record across office, retail, and mixed-use in the Mid-South and Southeast. Comparable founder-led, multi-generational developer profile to Mainland.
  • Crosland: Charlotte-based regional real estate developer with mixed-use, multifamily, and retail projects across the Carolinas and Southeast. Mainland COO James Lennon previously worked at Crosland's Nashville office, and the firms operate in similar product types and geographies.
  • Market Street Enterprises: Nashville-based commercial real estate investment and development firm with mixed-use, office, and retail projects. Comparable size and Southeast focus, often pursuing adjacent Nashville submarkets to Mainland.
  • GBT Realty Corporation: Nashville-headquartered retail real estate developer and acquirer specializing in single-tenant net lease and shopping centers across the Southeast and nationally. Direct overlap with Mainland Retail's build-to-suit and shopping center activities.
  • Southern Land Company: Tennessee-based mixed-use and master-planned community developer. Highly comparable to Mainland: same Southeast U.S. footprint, similar urban infill and mixed-use expertise, and a direct talent link — Mainland CFO Don Caire was previously CIO of Southern Land.

Broad incumbents

  • Hines: Global, vertically integrated real estate developer with mixed-use, office, and retail projects nationwide. Operates as a broad incumbent in the same urban development category as Mainland Urban, though at vastly larger scale.
  • Trammell Crow Company: Major national commercial real estate developer with a strong Southeast U.S. presence across office, industrial, retail, and mixed-use. Competes for similar institutional capital and large mixed-use mandates as Mainland, but at much larger scale.

Others

  • JLL Capital Markets: Global real estate investment and advisory firm. Not a direct competitor for development mandates but a relevant capital-markets intermediary, investor, and advisor that Mainland interacts with for capital formation and dispositions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

Mainland social profiles

Digital presence

Mainland financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Mainland leadership team

Management profile

Number of profiles

Profiles15 records

Mainland funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Mainland M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mainland

What does Mainland do?

Mainland is a Nashville-based commercial real estate development firm that partners with property owners, operators, and investors to identify the highest and best use of land and execute full-cycle development. Their work spans mixed-use urban infill, adaptive reuse, single-tenant retail, medical/specialized healthcare, and hospitality projects, delivered through consultative services covering underwriting, design, capital formation, project management, construction, stabilization, and disposition.

Is Mainland a public or private company?

Mainland is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Mainland founded?

Mainland was founded in 2011. It employs 11 to 50 people.

Where is Mainland based?

Mainland is headquartered in Nashville, United States, in the North America region.

How does Mainland make money?

Two revenue lines are on record. Development Services Fees are the primary driver. The others are real Estate Development.

Who are Mainland's main competitors?

Direct peers on record are Riverwood Real Estate Group, Elmington Capital Group, Boyle Investment Company, Crosland, Market Street Enterprises, GBT Realty Corporation and Southern Land Company. Broad incumbents are Hines and Trammell Crow Company. JLL Capital Markets is listed as an others.

Does Mainland have an API?

No public API is recorded for Mainland.

What industry is Mainland in?

Mainland's product category is Commercial Real Estate Development. Its primary akta.pro industry code is BPAJABAG, Land & Development Site Brokerage, with a secondary code of BPAJAGAE, Mixed-Use Property Management. Its NAICS code is 2372 and its SIC code is 6552.

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Live signals
Observer Local NewsMainland, Father Lopez coaches, players speak at Media DaysDuring the Central Florida Media Days on July 23, teams Mainland and Father Lopez provided insights about their upcoming seasons. Mainland's coach Jerrime Bell emphasized the need to face tougher opponents after a solid 9-3 record last year, while Father Lopez's coach Mark Gabbard described initiatives to develop leadership among players in his first season with a 6-5 record. Both teams are set for challenging schedules and key rivalries this season.AllafricaLiberia: U.S.$36m Deal Targets Liberia Rubber Processing and FarmersLiberia secured a US$36 million investment commitment from Cambodia-based Mainland Group to establish rubber processing facilities and support smallholder farmers. The out-grower scheme aims to improve market access, stabilize prices, and reduce income volatility for rural households. Implementation details are expected to be finalized in coming months.AllafricaNigeria: Lagos Bets On Local Power Amid Incessant Grid CollapsesLagos State is ramping up local power generation after securing 400 megawatts of new supply, aiming to reduce dependence on the national grid. The state activated its electricity regulatory regime in June 2025, becoming the first to complete the transition under the Electricity Act 2023. Officials say the new procurement model pays only for metered electricity, improving accountability.ZawyaNigeria's commercial capital Lagos bets on local power as grid faltersLagos has assumed full regulatory control of its electricity market, becoming the first Nigerian state to do so. The state secured 400 MW of new supply through power purchase agreements with three companies, aiming to reduce reliance on the national grid. Analysts said state-level markets could improve reliability but face constraints like gas supply and transmission bottlenecks.Premium Times NigeriaLagos bets on local power amid incessant grid collapsesLagos State is scaling up state-backed power generation after securing 400 megawatts of new supply through power purchase agreements. The state activated its electricity regulatory regime in June 2025, becoming the first to complete the transition under the Electricity Act 2023. Officials say the new approach eliminates take-or-pay provisions, paying only for metered electricity.BusinessdayLagos eyes 2027 take-off for first state-licensed power plants – Businessday NGLagos State is set to see its first state-licensed independent power producers commence commercial operations between 2026 and early 2027. This marks a shift from policy to execution in Nigeria's power sector reform.