The Eko Electricity Distribution Company (EKEDC) has formed a new subsidiary named Excel Electricity Distribution Company Limited to take charge of its electricity distribution business across Lagos State.

This development was announced in a statement by EKEDC’s General Manager for Corporate Affairs, Babatunde Lasaki, who explained that the creation of the new company aligns with directives from the Lagos State Government and provisions of the Electricity Act 2023.

He said the Lagos State Electricity Regulatory Commission (LASERC) instructed Eko DisCo, which currently supplies power in both Lagos and Ogun states, to establish a separate firm dedicated solely to its Lagos operations.

Excel Electricity Distribution Limited, which will operate under the joint oversight of LASERC and the Nigerian Electricity Regulatory Commission (NERC), is a wholly owned subsidiary of Eko DisCo.

The company stressed that Eko Electricity Distribution Company Plc has not been sold or taken over and remains a fully functional entity owned by West Power and Gas Limited, which holds a 60% stake, while the Bureau of Public Enterprises retains 40% ownership on behalf of the federal government.

According to the statement, all existing customer services, billing systems, and payment channels will remain the same, with the only noticeable change being the rebranding from Eko DisCo to Excel DisCo.

Eko DisCo further stated that it has now become a holding company as part of the restructuring process and assured customers that service delivery will not be affected.

The management described the move as a regulatory adjustment rather than a sale or divestment, reaffirming its commitment to efficiency, transparency, and uninterrupted electricity supply across Lagos State.