The Eko Electricity Distribution Company has incorporated a new subsidiary, Excel Electricity Distribution Company Ltd, to take charge of its electricity distribution activities in Lagos State.
In a statement issued on Tuesday, the General Manager for Corporate Affairs at EKEDC, Babatunde Lasaki, explained that the newly formed company operates as a wholly owned subsidiary of Eko DisCo.
He stated that the establishment of the subsidiary aligns with directives from the Lagos State Government and provisions contained in the Electricity Act 2023.
According to the statement, the Lagos State Electricity Regulatory Commission (LASERC) required Eko DisCo, which presently conducts operations across Lagos and Ogun States, to create a distinct entity dedicated solely to its Lagos operations.
In response to this directive, EKEDC incorporated Excel Electricity Distribution Limited to handle its Lagos-based operations under the dual regulatory supervision of LASERC and the Nigerian Electricity Regulatory Commission (NERC).
The distribution company stressed that Eko Electricity Distribution Company Plc has not undergone any sale, transfer, or dissolution, and continues to function as a fully operational and legally recognized corporate entity under Nigerian law.
Ownership of Eko Electricity Distribution Company Plc remains with West Power and Gas Limited (WPG), which holds a 60 percent stake, while the Bureau of Public Enterprises (BPE) retains the remaining 40 percent on behalf of the Federal Government of Nigeria.
Excel Electricity Distribution Limited, as a 100 percent subsidiary of EKEDC, will assume responsibility for all distribution-related functions previously carried out by EKEDC within Lagos State.
Management indicated that existing customer service personnel would remain in place, and billing and payment procedures would continue unchanged for the time being.
The primary visible change for customers will be the rebranding from Eko DisCo to Excel DisCo, according to the statement.
Customers and stakeholders have been advised to maintain contact with their regular service representatives for all inquiries and assistance throughout the transition period.
Under the restructuring arrangement, Eko Electricity Distribution Company Plc has transformed into a holding company, a modification carried out in accordance with regulatory requirements.
The company provided assurance that the development would not interfere with service delivery or operational efficiency in Lagos, emphasizing its commitment to sound corporate governance and regulatory adherence.
It further reaffirmed its determination to provide reliable, efficient, and sustainable electricity supply to customers through its newly licensed subsidiary, Excel DisCo.
The company emphasized that the development represents a purely regulatory and structural transition rather than a takeover or divestment, adding that the clarification was necessary to promote public understanding and transparency regarding significant developments in Nigeria’s electricity sector.
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