The Eko Electricity Distribution Company Plc (EKEDP) has announced the formal registration of Excel Electricity Distribution Company Limited as a wholly owned subsidiary to manage its power distribution business in Lagos State.

The development, according to EKEDP through a statement on Tuesday complies with directives from the Lagos State Electricity Regulatory Commission (LASERC) in line with the Electricity Act 2023, which transferred electricity market oversight to state governments.

With Eko Disco’s operations spanning Lagos and Ogun States, LASERC mandated the creation of a separate entity for Lagos operations. Excel Disco will now function under the joint regulatory supervision of LASERC and the Nigerian Electricity Regulatory Commission (NERC).

Management stressed that the establishment of Excel Disco does not amount to the sale or takeover of Eko Disco. The company remains a legally recognized entity, incorporated under Nigerian law, with no transfer of ownership.

Its ownership structure is unchanged: West Power and Gas Limited (WPG) retains a 60 percent stake, while the Bureau of Public Enterprises (BPE) holds 40 percent on behalf of the Federal Government of Nigeria.

Excel Disco will take over all electricity distribution functions in Lagos previously handled by EKEDP. Customers will continue to use existing payment channels and engage with the same personnel. The only visible change, management noted, will be the gradual transition from the Eko Disco brand to Excel Disco, with no disruption to service delivery.

EKEDP Becomes Holding Company

As part of the restructuring, EKEDP has repositioned itself as a holding company overseeing Excel Disco, while maintaining its presence in the Nigerian electricity sector.

“Eko Electricity Distribution Company Plc remains a key player and investor in the Lagos electricity ecosystem. Through Excel Disco, we remain committed to delivering reliable, efficient, and sustainable power supply to our customers,” the company said in a statement.

EKEDP emphasized that the move represents a regulatory restructuring rather than a divestment or takeover, assuring stakeholders of continued compliance with corporate governance and regulatory standards.