Eko DisCo Registers Excel Electricity Distribution Company as Subsidiary in Compliance with Regulatory Requirements

Eko Electricity Distribution Company Plc (EKEDC), popularly known as Eko DisCo, has announced the formal registration of Excel Electricity Distribution Company Limited as a fully-owned subsidiary to oversee its electricity distribution operations in Lagos State. This development is in line with regulatory requirements set by the Lagos State Government and the newly enacted Electricity Act 2023.

 

The restructuring follows the devolution of regulatory oversight of the electricity market to state governments under the Electricity Act 2023. As a result, the Lagos State Electricity Regulatory Commission (LASERC) mandated Eko DisCo, which operates in both Lagos and Ogun States, to establish a separate entity for its Lagos State operations. Consequently, Excel Electricity Distribution Limited was registered to manage the distribution business in Lagos under the dual regulatory oversight of LASERC and the Nigeria Electricity Regulatory Commission (NERC).

 

In a statement released by the management of EKEDC, the company clarified several key points regarding this transition to ensure public understanding and factual accuracy. Firstly, EKEDC emphasized that it has not been sold or taken over. The company remains a legally recognized entity incorporated under Nigerian law, with no sale, transfer of ownership, or dissolution having occurred.

 

EKEDC also reiterated that it continues to be owned by West Power and Gas Limited (WPG), which holds a 60% shareholding as the core investor, and the Bureau of Public Enterprises (BPE), which holds the remaining 40% on behalf of the Federal Government of Nigeria. The company assured stakeholders of its adherence to good corporate governance and regulatory frameworks.

 

As part of the transition, EKEDC has transformed into a holding company, while Excel Electricity Distribution Limited, its 100% subsidiary, will handle all electricity distribution activities previously managed by Eko DisCo in Lagos State. The management assured customers that this structural change will not impair operations. Customers will continue to be served by the same personnel and should make payments as they have in the past. While the name will transition from Eko DisCo to Excel DisCo, customers are advised to contact the same personnel for service needs and requests during this period.

 

The management of EKEDC further emphasized its commitment to delivering reliable, efficient, and sustainable power supply to all customers through Excel DisCo. “This licensing development represents a regulatory and structural transition, not a takeover or divestment,” the statement read. “Eko Electricity Distribution Company Plc remains a key player and investor in the Lagos electricity ecosystem.”

 

This clarification was deemed necessary by the management to address any potential misinformation and to foster public understanding of the significant developments in the electricity sector. The company urged stakeholders to take note of these updates and reassured them of its dedication to maintaining high standards of service delivery.