EKEDC appoints Wola Joseph-Condotti as 3rd female CEO In EKEDC’s History
The Eko Electricity Distribution Company (Eko Disco), one of Nigeria’s most commercially important power utilities, has appointed Wola Joseph-Condotti as its new Chief Executive Officer following the resignation of Rekhia Momoh, who had led the company for nearly two years.
Until her appointment, Joseph-Condotti was Group Managing Director and Chief Executive Officer of West Power & Gas Limited, the former core investor in Eko Disco.
Her elevation as 3rd female CEO in EKEDC’s history comes at a moment of unusual strategic significance for the electricity distribution company, following a landmark ownership transition and renewed investor interest in Nigeria’s power distribution segment.
The Eko Disco occupies a uniquely valuable niche within Nigeria’s electricity supply industry. Its franchise area spans parts of Lagos State that include Victoria Island, Ikoyi, Lekki, Apapa, and other high-density commercial and industrial districts. This geography gives the utility a customer base dominated by banks, telecoms operators, ports, logistics firms, large retailers, hospitality assets, and high-end residential developments.
As a result, Eko Disco is widely regarded as one of the most commercially attractive distribution company in Nigeria by revenue potential and customer mix, even if not by total number of connections. That advantage, however, comes with elevated expectations around service quality, metering accuracy, and supply reliability.
Recent Commercial Developments: Investment, Divestment, and a Reset showed that over the past few years, Eko Disco has moved more decisively toward a commercial, investor-grade operating model—reflecting the reality that distribution companies must now finance themselves, attract capital, and deliver measurable performance in a tightly regulated environment.
The most consequential development was the sale of a 60 percent equity stake in Eko Disco to the Transgrid Enerco consortium in December 2025, in a transaction valued at approximately ₦360 billion (about US$250 million). The deal marked the first major, fully commercial divestment and reinvestment in a Nigerian DisCo since the 2013 power-sector privatisation.
The Transgrid Enerco consortium includes North-South Power Company Limited, Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund, combining generation, gas infrastructure, and institutional capital under one ownership structure. The transaction was financed through a mix of equity and structured bank funding, and is widely viewed in the market as a test case for whether Nigeria’s power distribution assets can attract long-term private capital on commercial terms.
Joseph-Condotti, in her former role at West Power & Gas, was closely involved in steering the company through this divestment, aligning shareholder strategy with a broader reset of governance, capital structure, and long-term growth priorities.
Until her new appointment, she was the Group Managing Director and Chief Executive Officer of West Power & Gas Limited, the parent company of Eko Electricity Distribution PLC (EKEDP), and eight other subsidiaries with diverse interests across the energy sector.
She is a recognized thought leader in the energy sector, with a strong focus on renewable energy, sustainability, and carbon markets. Prior to her current role, Wola served as the pioneer Chief, Legal & Company Secretariat at EKEDP, and held various key positions including Head of Regulatory Compliance and Chief Human Resources and Administration Officer.
Wola holds a law degree from the University of Ibadan, an LLM from Harvard Law School, and an MBA from INSEAD Business School. Her achievements have earned her numerous awards, including being listed among the top 100 General Counsels by the Legal 500 GC Powerlist: Nigeria, 2024.
Operationally, Eko Disco has intensified its focus on metering, particularly for maximum-demand and high-value commercial customers. The company has been an active participant in the Federal Government’s Presidential Metering Initiative, deploying prepaid meters to reduce estimated billing disputes, improve transparency, and stabilise cash collections.
Metering remains one of the most critical commercial levers in Nigeria’s power sector, and progress in this area is central to Eko Disco’s revenue assurance strategy.
Network Upgrades and Embedded Solutions
Eko Disco has also prioritised targeted network upgrades in high-load corridors such as Lekki, Victoria Island, and parts of the Island business district. These investments are aimed at reducing technical losses, relieving feeder congestion, and improving supply reliability for customers whose operations are sensitive to outages.
In parallel, the utility has explored bilateral supply arrangements and embedded generation solutions where regulation permits, particularly for large commercial and industrial customers seeking more predictable power availability.
Engagement with Lenders and DFIs
The ownership transition has been accompanied by deeper engagement with Nigerian banks and institutional financiers, positioning Eko Disco to access refinancing and capital expenditure funding in a sector still constrained by liquidity challenges and foreign-exchange exposure.