Eko DisCo Registers Excel Electricity Distribution Company as 100% Subsidiary

Eko Electricity Distribution Company Plc (Eko DisCo) wishes to inform the public that it has formally registered Excel Electricity Distribution Company Limited as a 100% subsidiary to assume responsibility for its electricity distribution operations within Lagos State.

This development is in compliance with regulatory directives of the Lagos State Government.

1. Transition in Line with the Electricity Act 2023
The restructuring follows the enactment of the Electricity Act 2023, which devolved regulatory authority for electricity markets to state governments. In accordance with this Act, the Lagos State Electricity Regulatory Commission (LASERC) directed Eko DisCo — which operates across Lagos and Ogun States — to establish a distinct entity for its Lagos operations.

Consequently, Excel Electricity Distribution Limited has been incorporated to manage electricity distribution in Lagos under the joint regulatory oversight of LASERC and the Nigerian Electricity Regulatory Commission (NERC).

2. Eko Electricity Distribution Company Plc Has Not Been Sold
Eko DisCo wishes to clarify that it has not been sold, taken over, or dissolved. The company remains a duly incorporated and operational entity under Nigerian law. There has been no sale, transfer of ownership, or change in control.

3. Ownership Structure Remains Unchanged
Eko Electricity Distribution Company Plc remains owned by West Power and Gas Limited (WPG), which holds 60% shareholding, and the Bureau of Public Enterprises (BPE), which retains the remaining 40% on behalf of the Federal Government of Nigeria. Eko DisCo continues to operate in full compliance with all corporate governance and regulatory requirements.

4. Excel Electricity Distribution Limited Is a Subsidiary of EKEDC
The newly licensed Excel Electricity Distribution Limited is a wholly owned subsidiary of Eko DisCo. It will carry out all electricity distribution activities previously handled by EKEDC.

Customers will continue to be served by the same personnel and payment channels as before. During the transition period, both names — Eko DisCo and Excel DisCo — may be used interchangeably. Customers are encouraged to maintain their existing service contacts until the transition is fully completed.

5. Eko DisCo Becomes a Holding Company
As part of this restructuring, Eko Electricity Distribution Company Plc has evolved into a holding company, in line with regulatory compliance requirements. This transformation will not affect its operational efficiency or customer service delivery in Lagos.

Eko DisCo remains a trusted and integral part of the Lagos electricity ecosystem, fully committed to providing reliable, efficient, and sustainable power through its subsidiary, Excel DisCo.

This clarification is issued to ensure accurate public understanding of the recent regulatory and structural developments in the electricity sector.

Signed:
Management
Eko Electricity Distribution Company Plc (EKEDC)