Transgrid Enerco Acquires 60% Stake In Eko Disco

Transgrid Enerco Limited has completed the acquisition of a 60% equity stake in Eko Electricity Distribution Plc (EKEDC), marking the first market-driven acquisition of a Nigerian electricity distribution company since the power sector privatisation.

The transaction was finalised following the execution of all transaction and financing documents at a signing ceremony held in Lagos.

EKEDC is one of Nigeria’s largest electricity distribution companies, serving major parts of Lagos State and the Agbara area of Ogun State. It plays a critical role in supporting residential, commercial, and industrial activity across one of the country’s most economically active regions.

Transgrid Enerco confirmed that it has successfully raised the required debt and equity financing for the acquisition and has achieved financial close, with fund disbursements to follow in line with agreed timelines. The company said the transaction provides a strong foundation for operational improvements, infrastructure investment, and long-term value creation.

Speaking at the signing ceremony, the Chairman of Transgrid Enerco Limited, Engr. Olubunmi Peters, said the acquisition reflects renewed confidence in Nigeria’s power sector.

“This transaction shows that Nigeria’s electricity distribution sector can attract long-term capital when there is a clear focus on operational excellence and disciplined execution,” Peters said.

“Our priority is to strengthen EKEDC through infrastructure upgrades, improved efficiency, and integrated energy expertise, while ensuring regulatory compliance and continuity of service,” he added.

Transgrid Enerco stated that EKEDC’s operations will continue without disruption. The company reaffirmed its commitment to working closely with employees, customers, regulators, host state governments, and local communities, as it rolls out a phased programme to improve service reliability and customer