In compliance with the Lagos State Government’s regulatory directives, Eko Electricity Distribution Company Plc (Eko DisCo) has registered Excel Electricity Distribution Company Limited as a 100 per cent subsidiary to manage its electricity distribution business in Lagos State.
The company said the restructuring aligns with the provisions of the Electricity Act 2023, which devolved regulatory authority in the power sector to state governments.
According to a statement issued by the management of Eko DisCo on Tuesday, the move became necessary following the directive of the Lagos State Electricity Regulatory Commission (LASERC), which required distribution companies operating across multiple states to register distinct entities for each state.
‘Eko DisCo, which operates in Lagos and Ogun States, therefore established Excel Electricity Distribution Limited to operate under the joint regulatory oversight of LASERC and the Nigerian Electricity Regulatory Commission (NERC),’ the company explained.
The management clarified that Eko Electricity Distribution Company Plc has not been sold, taken over, or dissolved, stressing that there has been no transfer of ownership or change in control.
It stated that Eko DisCo remains a duly incorporated and fully operational entity, with West Power and Gas Limited (WPG) retaining its 60 per cent shareholding and the Bureau of Public Enterprises (BPE) holding the remaining 40 per cent on behalf of the Federal Government of Nigeria.
Eko DisCo added that Excel Electricity Distribution Limited is a wholly owned subsidiary that will continue all distribution activities previously managed by Eko DisCo. Customers, it assured, will retain the same service channels, personnel, and payment systems.
‘As we transition, customers may notice the name change from Eko DisCo to Excel DisCo, but all service operations remain uninterrupted,’ the statement read.
The company further revealed that Eko DisCo has now transmuted into a holding company, in compliance with regulatory requirements.
It reiterated its commitment to delivering reliable, efficient, and sustainable electricity to all customers in Lagos, describing the development as a regulatory and structural transition, not a takeover or divestment.
‘Eko Electricity Distribution Company Plc remains a key player and investor in the Lagos electricity ecosystem, fully committed to improving service delivery through Excel DisCo,’ the statement added.