Eko DisCo Speaks Out over Alleged Sale as New Firm Takes over Lagos Operations
- Eko Electricity Distribution Company (EKDC) has clarified that it was neither sold nor taken over by another firm
- The company said it created a new distribution company, Excel Electricity Distribution Company Limited, to align with a new law
- The disclosed that it has now transitioned into a holding company as mandated by the Electricity Act 2023
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.
Eko Electricity Distribution Company (EKDC) has debunked reports that it was sold or taken over by another entity, stating that it remains legally recognised and fully operational.
In a statement on Tuesday, October 7, 2025, the company explained that it registered a new subsidiary, Excel Electricity Distribution Company Limited, to comply with regulatory requirements of the Lagos State Electricity Regulatory Commission (LASERC) under the Electricity Act 2023.
Source: Getty Images
Eko DisCo evolves
EKDC said the new law confers regulatory oversight of the electricity market to state governments, prompting the creation of a separate entity for its Lagos operations.
The firm clarified that this is not a sale or divestment, but a restructuring to ensure full compliance.
To that end, EKDC has transitioned into a holding company, with Excel DisCo assuming electricity distribution duties in Lagos, while EKDC retains its ownership and investment structure.
The company assured customers that the rebranding will not affect service delivery, and that the same personnel and payment channels will remain in use.
It reaffirmed its commitment to a reliable and sustainable power supply under its new structure.
The statement said that the restructuring became necessary after the Electricity Act was enacted, which confers regulatory oversight on the electricity market to state governments.
The move aligns with the law
To meet this requirement, Eko DisCo registered Excel Electricity Distribution Limited as a wholly owned subsidiary that will take over its distribution business within Lagos State.
The statement further noted that the new company will operate under the regulatory oversight of LASERC.
“Expect changes” EKDC tells consumers
The firm assured customers that the change in name will not affect services, as the same personnel will continue to serve them.
Eko DisCos said that customers will begin to see a gradual name change from EKDC to Excel DisCo, stating that they should continue to pay their bills and contact the same staff for all services.
It clarified that EKDC remains jointly owned by West Power and Gas Limited, which has 60% of the shares, and the Bureau of Public Enterprises (BPE), which has 40% of its shares for the Nigerian government.
The company’s management disclosed that it has now transitioned into a holding company, reflecting the new structure.
Eko DisCo affirmed its commitment to a reliable and sustainable electricity supply through its new subsidiary, Excel DisCo, clarifying that the company has not been sold.
EKDC becomes a holding company
The DisCo stated it remains a key player and investor in Lagos' electricity ecosystem, dedicated to providing efficient and sustainable power.
This clarification addresses recent speculation regarding the ownership and restructuring of the electricity distributor.
The Lagos State Electricity Regulatory Commission (LASERC) recently announced Excel DisCo as the subsidiary registered by Eko DisCo to operate under state regulation.
Source: Getty Images
Similarly, Ikeja Electric also registered IE Energy Lagos Limited. Both Excel Disco and IE Energy will be regulated by LASERC.
Power minister threatens to revoke DisCos' licences
Legit.ng earlier reported that Nigeria's Minister of Power, Chief Adebayo Adelabu, announced that the Federal Government will not renew the operational licences of underperforming electricity distribution companies (DisCos) when they expire in 2028.
Speaking at the 2025 Nigerian Economic Summit in Abuja during a session focused on the power sector titled "Uninterrupted Power Supply:
The Industrial Imperatives," Adelabu attributed the nation’s continued electricity woes largely to the inefficiencies of the DisCos.
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Source: Legit.ng
