Eko Electricity Distribution Company (EKEDC) has created a new subsidiary, Excel Electricity Distribution Company Ltd., to handle its power distribution business within Lagos State.In a statement on Tuesday, General Manager, Corporate Affairs, EKEDC, Mr Babatunde Lasaki, said the new company is fully owned by Eko DisCo.
According to it, the company was registered to meet the requirements of the Lagos State Government and the Electricity Act 2023.
“As a result, the Lagos State Electricity Regulatory Commission (LASERC) mandated that Eko DisCo, which currently operates in both Lagos and Ogun States, establish a separate entity exclusively for its Lagos operations.
“Accordingly, EKEDC has incorporated Excel Electricity Distribution Limited to manage its Lagos operations under the regulatory oversight of both LASERC and the Nigerian Electricity Regulatory Commission (NERC),” EKEDC said.
The company emphasised that Eko Electricity Distribution Company Plc has not been sold, transferred, or dissolved.
According to the management, the company remains a fully operational and legally recognised entity under Nigerian law.
“Eko Electricity Distribution Company Plc remains owned by West Power and Gas Limited (WPG) with a 60% shareholding, and the Bureau of Public Enterprises (BPE), holding the remaining 40 per cent on behalf of the Federal Government of Nigeria,” the DisCo clarified.
“Excel Electricity Distribution Limited is a 100 per cent subsidiary of EKEDC and will now perform all distribution-related activities previously handled by EKEDC in Lagos State,” it added.
It said that all existing customer service personnel would remain the same while billing and payment processes remain unchanged for now.
“The only noticeable change will be the transition in branding from Eko DisCo to Excel DisCo.
The company advised customers and stakeholders to continue contacting their usual service representatives for all inquiries and support during this transition.
As part of the restructuring, Eko Electricity Distribution Company Plc has transitioned into a holding company.
This change, made in compliance with regulatory directives, will not disrupt service delivery or operational efficiency in Lagos.
The management reiterated its commitment to maintaining high standards of corporate governance and regulatory compliance.
It also reaffirmed its dedication to delivering reliable, efficient, and sustainable electricity supply to all customers through its newly licensed subsidiary, Excel DisCo.
“This development is purely a regulatory and structural transition, not a takeover or divestment,” the company stressed.
“This clarification is necessary to ensure public understanding and transparency regarding important developments in Nigeria’s electricity sector.”
