Eko Electricity Distribution Company launches Excel DisCo, a new Lagos subsidiary, to meet state and national regulatory requirements under the Electricity Act 2023

Eko Electricity Distribution Company has announced the establishment of a new subsidiary, Excel Electricity Distribution Company Limited, to manage its electricity distribution operations within Lagos State.

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The development, disclosed in a Tuesday statement by Babatunde Lasaki, General Manager, Corporate Affairs, EKEDC, marks a major structural transition for one of Nigeria’s largest power distributors.

According to the company, the move aligns with the Lagos State Electricity Regulatory Commission (LASERC) directive and the provisions of the Electricity Act 2023, which require a clear separation of electricity operations across states.

“As a result, LASERC mandated that Eko DisCo, which currently operates in both Lagos and Ogun States, establish a separate entity exclusively for its Lagos operations,” Lasaki said.

“Accordingly, EKEDC has incorporated Excel Electricity Distribution Limited to manage its Lagos operations under the joint regulatory oversight of LASERC and the Nigerian Electricity Regulatory Commission (NERC),” the statement added.

EKEDC clarified that the company has neither been sold nor dissolved, emphasising that it remains fully operational and legally recognised under Nigerian law.

“Eko Electricity Distribution Company Plc remains owned by West Power and Gas Limited (WPG) with 60 per cent shareholding, while the Bureau of Public Enterprises (BPE) retains 40 per cent on behalf of the Federal Government,” the statement read.

It explained that Excel Electricity Distribution Limited is a wholly owned subsidiary of EKEDC and will handle all distribution-related activities previously managed by Eko DisCo in Lagos.

The company assured customers that service personnel, billing, and payment processes would remain unchanged during the transition period, with the only noticeable difference being a gradual shift in branding from Eko DisCo to Excel DisCo.

As part of the restructuring, Eko Electricity Distribution Company Plc has now transitioned into a holding company, a change made to comply with regulatory directives and strengthen operational efficiency.

The management reiterated its commitment to corporate governance, transparency, and reliable electricity supply, describing the restructuring as “a regulatory and structural transition, not a takeover or divestment.”

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“This development reflects our continued dedication to improving service delivery while maintaining compliance with state and federal regulations,” EKEDC said.