Eko Distribution Company Moves to Sell Majority Stake to Consortium [Video]

• The parent company of Eko Electricity Distribution Company is currently selling every stake it owns in the electricity supplier
• The partnership is comprised of the oil and gas company Axxela, Stanbic Infrastructure Fund, Shiroro Dam’s owners, and North-South Power
• The group won the opportunity to buy a share in Eko Disco after a competitive procedure that began in early 2024

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

West Power and Gas Limited (WPG), the parent firm of Eko Electricity Distribution firm (EKEDC), is in the process of selling all of its shares in the electricity provider.

Nairametrics reported that a consortium that won the bid had paid the necessary 10% commitment fee, citing persons with firsthand knowledge of the deal.

North-South Power (NSP), the proprietors of Shiroro Dam, StanbicInfrastructure Fund, and the oil and gas firm Axxela make up …