Article

Transgrid Enerco Ltd. has acquired a 60% stake in Eko Electricity Distribution Co. for N360 billion ($250 million), marking a significant development in Nigeria's electricity sector. The acquisition, finalized on December 30, includes plans to enhance distribution capacity to approximately 1,500 megawatts, addressing existing limitations. Olubunmi Peters, chair of Transgrid Enerco, aims to improve electricity delivery in Lagos and Ogun states.