The Eko Electricity Distribution Company Plc (Eko DisCo) has reaffirmed its status as a fully independent and operational entity following the registration of a new subsidiary, Excel Electricity Distribution Company Limited, which will manage electricity distribution operations within Lagos State.
The announcement, made by the company’s management, clarifies that the establishment of Excel Electricity Distribution Limited is a regulatory compliance measure following the enactment of the Electricity Act 2023, which transferred certain regulatory powers in the electricity sector from the Federal Government to state governments.
According to Eko DisCo, the Lagos State Electricity Regulatory Commission (LASERC) directed the creation of a distinct entity to handle electricity operations within the state. Consequently, Excel Electricity Distribution Limited has been duly registered to operate under the joint oversight of LASERC and the Nigerian Electricity Regulatory Commission (NERC).
Despite this transition, Eko DisCo stressed that it remains a legally recognized, independent, and operational company under Nigerian law, with no change in ownership or management structure. The company stated that it has not been sold, taken over, or dissolved, dispelling rumours suggesting otherwise.
The ownership structure of Eko DisCo remains intact, with West Power and Gas Limited (WPG) maintaining its 60 percent shareholding, while the Bureau of Public Enterprises (BPE) holds 40 percent on behalf of the Federal Government of Nigeria.
As part of the new structure, Eko DisCo will now function as a holding company, while its new subsidiary, Excel Electricity Distribution Limited, will manage all electricity distribution functions within Lagos State. Customers are assured of continued seamless service, as existing staff and payment channels remain unchanged. Over time, customers will begin to notice a gradual transition from the Eko DisCo name to Excel DisCo, with no disruption in service delivery or customer support.
The management emphasized that this development is purely structural and regulatory, designed to ensure alignment with the evolving electricity regulatory framework. It is not a takeover or divestment, but a proactive step to enhance efficiency and compliance.
“Eko DisCo remains committed to delivering reliable, efficient, and sustainable electricity supply across its coverage areas,” the company’s management stated. “The registration of Excel DisCo is a reflection of our commitment to regulatory compliance and improved service delivery for our valued customers.”
The company further urged the public and stakeholders to disregard any misinformation suggesting changes in ownership or operational control, assuring continued adherence to strong corporate governance principles and industry best practices.
