Eko DisCo Registers Excel Electricity Distribution Company as 100% Subsidiary

By Yunus Yusuf

Eko Electricity Distribution Company Plc (EKEDC), popularly known as Eko DisCo, has officially registered Excel Electricity Distribution Company Limited as a wholly-owned subsidiary to oversee its electricity distribution operations within Lagos State.

In a statement issued on Tuesday by Mr. Babatunde Lasaki, General Manager, Corporate Affairs on behalf of the company, explained that this move aligns with the regulatory requirements of the Lagos State Government and is in full compliance with the newly enacted Electricity Act 2023.

Transition in Line with the Electricity Act 2023

The restructuring follows the implementation of the Electricity Act 2023, which devolves regulatory authority of the electricity market to state governments. 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).

Eko DisCo Has Not Been Sold

The management emphasized that Eko Electricity Distribution Company Plc has not been sold, transferred, or dissolved. The company remains a fully operational and legally recognized 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% on behalf of the Federal Government of Nigeria,” the statement clarified.

Excel Electricity Distribution: A 100% Subsidiary of EKEDC

Excel Electricity Distribution Limited is a 100% subsidiary of EKEDC and will now perform all distribution-related activities previously handled by EKEDC in Lagos State.

Stakeholders and Customers should note that:

All existing customer service personnel will remain the same.

Billing and payment processes remain unchanged for now.

The only noticeable change will be the transition in branding from Eko DisCo to Excel DisCo.

Stakeholders and Customers are advised to continue contacting their usual service representatives for all inquiries and support during this transition.

EKEDC Becomes a Holding Company

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.

Clarification on the Nature of the Transition

“This development is purely a regulatory and structural transition, not a takeover or divestment,” the management stressed.

“This clarification is necessary to ensure public understanding and transparency regarding important developments in Nigeria’s electricity sector.”