EKEDC transmutes into a Holding Company, registers Excel DisCo

The Eko Electricity Distribution Company Plc (Eko DisCo) has officially registered Excel Electricity Distribution Company Limited as a 100 per cent subsidiary to take over the operations of its electricity distribution business in Lagos State. This is in compliance with Lagos State Government regulatory requirements.
Following the granting of electricity regulatory powers to the states, the Lagos State Electricity Regulatory Commission (LASERC) required Eko DisCo, which operates in two states- Lagos and Ogun States, to register a separate entity for its Lagos State operations. Eko DisCo therefore registered its subsidiary, Excel Electricity Distribution Limited to operate its distribution business under the regulatory oversight of LASERC and Nigeria Electricity Regulatory Commission (NERC).
The EKEDC has subsequently transmuted into a holding company- a structural change in regulatory compliance following the enactment of the Electricity Act (EA) 2023 which devolved regulatory oversight of the electricity market to state governments.
In a statement signed by the EKEDC management yesterday, the utility assured that the development will not impair its operations in the State.
“Management hereby reiterates that Eko Electricity Distribution Company Plc remains a key player and investor in the Lagos electricity ecosystem, committed to delivering reliable, efficient, and sustainable power supply to all customers through Excel Disco. The recent licensing developments represent a regulatory and structural transition, not a takeover or divestment. This clarification became necessary in the interest of factual accuracy and public understanding of important developments in the electricity sector,” the statement said.
It further explained that the newly licensed Excel Electricity Distribution Limited is a 100 per cent subsidiary of EKEDC and will perform all the electricity distribution activities previously done by EKEDC under EKO DISCO. Furthermore, the EKEDC advised all customers of Excel DisCo will continue to be served by the same personnel who served them in EKO DISCO and urged them to pay their bills in the same way they have been paying.
“They will notice the name change as we transition the name from EKODISCO to Excel Disco. For now, they should continue to contact the same personnel they normally contact for all their service needs and customer requests,” it advised its customers.
The management was emphatic that the new arrangement does not translate to the sale or takeover of EKEDC, as it remains a legally recognised and operational entity duly incorporated under Nigerian law.
There has been no sale, transfer of ownership, or dissolution of the company. EKEDC also known as Eko DisCo continues to exist as a legal entity, with 60 per cent shareholding retained by West Power and Gas Limited (WPG) — the core investor and the BPE which is holding the balance 40 per cent shareholding on behalf of the Federal government of Nigeria. The company continues to operate under full compliance with good corporate governance and regulatory frameworks,” the management said.