The Nigerian Electricity Regulatory Commission (NERC) has approved the appointment of Ms. Sherifat Adegbenro as the acting Chief Executive Officer (CEO) of Eko Electricity Distribution PLC (EKEDP).
The commission made this known in a public notice posted on its X handle on Monday.
NERC said the appointment aligns with the Code of Corporate Governance for the Nigerian Electricity Supply Industry.
What they are saying
NERC noted that Adegbenro will begin acting as the CEO of Eko DisCo.
- “The Nigerian Electricity Regulatory Commission (NERC) has formally approved the appointment of Ms. Sherifat Adegbenro as the acting Chief Executive Officer of Eko Electricity Distribution PLC (EKEDP).
- “Aligned with the Code of Corporate Governance for the Nigerian Electricity Supply Industry, this appointment ensures leadership continuity pending the DisCo’s appointment of a substantive CEO,” the statement said.
Get up to speed
In January, Eko Electricity Distribution Company named Wola Joseph-Condotti as its interim Chief Executive Officer.
- This was according to information obtained by Nairametrics from sources familiar with the matter.
- Her appointment came less than two weeks after TransGrid Consortium completed its acquisition of a majority stake in Eko DisCo
- It also followed the resignation of Rekhiat Momoh, who had led the company for nearly two years.
In November last year, Nairametrics reported that Eko Electricity Distribution Company confirmed Momoh as the Managing Director and Chief Executive Officer, a move that solidified her position after months in an acting capacity.
The appointment showed the company’s focus on strengthening leadership as it continues to navigate Nigeria’s evolving power sector.
- Before her confirmation, she had been previously announced by the board in 2024 as the Acting Chief Executive Officer, effective March 26, 2024.
- The appointment followed the redeployment of a former MD/CEO, Mrs. Tinuade Sanda, back to WPG Ltd, the core investor that had seconded her to Eko DisCo.
The development was disclosed in a statement issued on behalf of the company’s board and obtained by Nairametrics.
What you should know
Last December, TransGrid Enerco Limited finalised the acquisition of a 60% controlling stake in Eko Electricity Distribution Company in a deal valued at approximately N360 billion.
The transaction, which had initially been slated to close by April 2025, was completed on December 30, 2025.
- It marked one of the largest private takeovers in Nigeria’s power distribution sector since the landmark 2013 privatisation of the power industry.
- WPG reportedly paid $135 million to acquire 60% of the core assets of the distribution company from the government during the privatization of the electricity sector in 2013.
According to sources with direct knowledge of the deal, Transgrid Enerco made an initial cash payment of N180 billion, while the balance of N180 billion is secured through bank guarantees, ensuring deferred settlement assurance for the sellers.
