Eko Electricity Distribution Company, EKEDC, has registered a new subsidiary known as Excel Electricity Distribution Company Limited to handle its electricity operations within Lagos State.
In a statement issued by the General Manager of Corporate Affairs, Babatunde Lasaki, the company said the move was made in line with the requirements of the Lagos State Government and the provisions of the Electricity Act 2023.
According to the statement, the Lagos State Electricity Regulatory Commission, LASERC, directed Eko DisCo to establish a separate entity for its Lagos operations, as it currently operates in both Lagos and Ogun States.
EKEDC clarified that it has not been sold, transferred, or dissolved, noting that it remains owned by West Power and Gas Limited with a 60 percent shareholding, while the Bureau of Public Enterprises, BPE, retains 40 percent ownership on behalf of the Federal Government.
The new subsidiary, Excel Electricity Distribution Limited, will now take over all electricity distribution activities previously handled by EKEDC in Lagos State. The company assured that customer services, billing, and payment systems will remain unchanged.
Management also emphasized that the restructuring is purely regulatory and structural, not a divestment or takeover, adding that the transition will not affect electricity supply or service delivery across its coverage areas.