The management of Eko Electricity Distribution Company (EKEDC) has debunked circulating reports suggesting that the company has been sold to new investors, describing the claims as entirely false and misleading. The company made this clarification following speculations in some quarters that ownership of Eko DisCo had changed hands as part of the ongoing reforms and recapitalisation in Nigeria’s power sector.
In an official statement issued in Lagos, the company’s Head of Corporate Communications, Mr. Babatunde Lasaki, affirmed that Eko DisCo remains fully operational under its existing management and ownership structure. He stressed that no sale, transfer, or takeover process had taken place, contrary to recent rumors making rounds on social media and some online platforms.
“The attention of the management of Eko Electricity Distribution Company has been drawn to false reports claiming that the company has been sold. We wish to categorically state that these claims are untrue. Eko DisCo has not been sold, and its ownership and management remain unchanged. Our focus remains on improving service delivery, expanding our infrastructure, and meeting the needs of our customers,” Lasaki said.
He further explained that the company’s shareholders and board of directors are fully intact and that there has been no discussion or approval regarding any sale or divestment. According to him, Eko DisCo remains one of the most stable and efficiently managed distribution companies in Nigeria’s power sector.
Lasaki urged the public to disregard the rumors and rely only on verified information released by the company through official channels. He warned that misleading reports could cause unnecessary confusion among customers and investors, adding that the company would not hesitate to take legal action against individuals or organizations peddling false information.
Eko DisCo, which serves a large part of Lagos State and parts of Ogun State, is one of the 11 electricity distribution companies created following the privatisation of the Power Holding Company of Nigeria (PHCN) in 2013. Since then, the company has made substantial investments in network expansion, infrastructure upgrades, and customer service improvement.
The management reiterated its commitment to providing stable and reliable electricity supply across its coverage areas, noting that the company has been investing heavily in metering, network rehabilitation, and loss reduction initiatives. “Our priority remains ensuring efficient power distribution, improving customer satisfaction, and contributing to the stability of Nigeria’s electricity sector,” the statement added.
Industry observers noted that the rumor of Eko DisCo’s sale might have stemmed from the Federal Government’s ongoing efforts to restructure and recapitalize some of the underperforming DisCos across the country. The Bureau of Public Enterprises (BPE) and the Nigerian Electricity Regulatory Commission (NERC) have recently been working with financial institutions and investors to strengthen the operational capacity of power distribution companies.
However, Eko DisCo clarified that it is not one of the companies affected by the government’s intervention process. Unlike some other DisCos currently under temporary management due to loan defaults or governance challenges, Eko DisCo remains financially stable and compliant with regulatory standards.
In a follow-up statement, the company’s Chief Executive Officer, Dr. Tinuade Sanda, reaffirmed the company’s commitment to maintaining operational excellence and transparency. She explained that Eko DisCo continues to engage constructively with stakeholders, including regulators, investors, and customers, to achieve improved service delivery and sustainability in the power value chain.
“We have worked tirelessly to build trust and deliver quality service to our customers. Our operations are transparent, our corporate governance remains strong, and our management team is focused on innovation, accountability, and performance. We urge the public to ignore baseless claims about ownership changes,” Sanda stated.
She added that the company has recently embarked on several strategic projects aimed at improving electricity supply reliability, including the deployment of smart meters, expansion of injection substations, and network automation to reduce downtime and enhance fault detection.
The Eko DisCo boss also emphasized the company’s commitment to environmental and social sustainability. According to her, Eko DisCo is aligning its operations with Nigeria’s energy transition plan by adopting cleaner technologies, promoting energy efficiency, and supporting renewable energy integration into the grid.
In recent months, Eko DisCo has partnered with various organizations and government agencies to improve electricity access in underserved communities and encourage responsible energy consumption. The company has also been actively involved in corporate social responsibility (CSR) projects, focusing on education, youth empowerment, and community development.
Reacting to the statement, industry analysts have commended Eko DisCo for promptly addressing the misinformation and maintaining transparency in its communications. A Lagos-based energy consultant, Mr. Chinedu Nwankwo, said the clarification was important to prevent panic among investors and customers.
“Eko DisCo is one of the leading distribution companies in the country in terms of performance and customer engagement. The management’s quick response shows professionalism and commitment to transparency. In a sector where rumors can easily damage reputation, their communication strategy is commendable,” Nwankwo said.
Meanwhile, the Nigerian Electricity Regulatory Commission (NERC) also confirmed that there had been no official communication regarding the sale or transfer of Eko DisCo. A senior official from the Commission, who spoke on condition of anonymity, stated that any major ownership change in a licensed distribution company must be approved and announced by the regulator.
As the Nigerian power sector continues to undergo reforms, Eko DisCo’s management reiterated its readiness to collaborate with government agencies, investors, and other stakeholders to achieve the national goal of reliable electricity supply. The company maintained that it remains committed to driving innovation, efficiency, and customer satisfaction across all operational areas.
In conclusion, Eko Electricity Distribution Company has firmly dismissed reports of a sale, reaffirming its commitment to transparency, growth, and service excellence. The management’s clear stance reflects stability within the organization and underscores its determination to remain a trusted player in Nigeria’s power distribution industry.
Going forward, Eko DisCo pledged to focus on deepening customer engagement, improving infrastructure, and ensuring consistent power supply across its service areas. The company reiterated that it remains dedicated to powering homes, businesses, and industries while upholding the highest standards of corporate governance and operational integrity.
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