EKEDC Launches Excel DisCo Subsidiary to Comply with Lagos Electricity Law
The Eko Electricity Distribution Company (EKEDC) has announced the formation of a wholly-owned new subsidiary, Excel Electricity Distribution Company Ltd (Excel DisCo), to manage its electricity operations exclusively within Lagos State.
The move, confirmed in a statement issued on Tuesday by EKEDC’s General Manager for Corporate Affairs, Babatunde Lasaki, is a direct response to the Electricity Act 2023 and mandates from the Lagos State Government.
Mr. Lasaki explained that because EKEDC currently services both Lagos and Ogun States, the Lagos State Electricity Regulatory Commission (LASERC) required the company to create a separate legal entity dedicated solely to its Lagos operations.
“Accordingly, EKEDC has incorporated Excel Electricity Distribution Limited to oversee its Lagos operations under the regulatory oversight of both LASERC and the Nigerian Electricity Regulatory Commission (NERC),” the statement read.
This organizational shift sees EKEDC transforming into a holding company in line with regulatory directives. Excel DisCo, as a 100% subsidiary, will now execute all distribution-related activities that were previously handled by the parent company within Lagos State.
EKEDC was quick to allay public concerns, strongly emphasizing that the Eko Electricity Distribution Company Plc has not been sold, transferred, or dissolved.
The company clarified that its ownership structure remains unchanged: West Power and Gas Limited (WPG) retains a 60% shareholding, with the Bureau of Public Enterprises (BPE) holding the remaining 40% on behalf of the Federal Government of Nigeria.
Management assured customers that the transition is purely regulatory and structural, and not a takeover or divestment. Service delivery and operational efficiency in Lagos are not expected to be negatively impacted.
“All existing customer service personnel will remain the same, while billing and payment processes will remain unchanged for now,” the statement noted.
The only discernible difference customers will observe is the rebranding from Eko DisCo to Excel DisCo.
Customers and stakeholders were advised to continue engaging their current service representatives for all inquiries and support. The firm reaffirmed its commitment to corporate governance, regulatory adherence, and delivering a reliable, efficient, and sustainable power supply through its newly licensed entity.
This clarification, the company concluded, is essential for promoting public understanding and transparency regarding significant developments within the Nigerian electricity sector.
