Eko Electricity Distribution Company (EKEDC) has created a new subsidiary, Excel Electricity Distribution Company Limited, to manage power distribution exclusively in Lagos State, as announced by General Manager, Corporate Affairs, Mr. Babatunde Lasaki. The restructuring complies with the Electricity Act 2023 and directives from the Lagos State Electricity Regulatory Commission (LASERC), which mandated EKEDC to separate its Lagos operations from those in Ogun State under dual oversight by LASERC and the Nigerian Electricity Regulatory Commission (NERC).
Lasaki clarified that EKEDC remains a distinct entity, owned 60% by West Power and Gas Limited (WPG) and 40% by the Bureau of Public Enterprises (BPE) on behalf of the Federal Government, and has not been sold or dissolved. Excel DisCo, a fully owned subsidiary of EKEDC, will handle all distribution activities in Lagos, with existing customer service personnel, billing, and payment processes unchanged. The only visible change will be a rebranding from Eko DisCo to Excel DisCo.
EKEDC has transitioned into a holding company, ensuring no disruption to service delivery. The company emphasized its commitment to reliable electricity supply, high corporate governance standards, and regulatory compliance. Lasaki noted that this is a regulatory and structural transition, not a takeover or divestment, aiming to clarify public understanding of Nigeria’s electricity sector developments.
The Electricity Act 2023, signed by President Bola Tinubu in June 2023, decentralized the power sector, granting states authority to regulate electricity markets. Twenty-three states, including Lagos, have passed enabling laws, with 14 under formal NERC oversight. In January 2025, Transgrid Enerco Limited signed a Share Purchase Agreement to acquire WPG’s 60% stake in EKEDC, though the company remains intact.
