Olubunmi Peters Ready To Takeover Eko Disco With $250m
A N360 billion ($250 million) deal is reshaping one of Nigeria’s most strategic power markets—and bringing Olubunmi Peters into sharper focus.
Peters, a civil engineer and infrastructure executive, chairs Transgrid Enerco Ltd., the consortium that has taken control of 60% of Eko Electricity Distribution Co., which serves key parts of Lagos and the Agbara industrial corridor in Ogun State.
The Dec. 30 transaction, completed just ahead of a new capital gains tax regime, combines cash and bank-backed guarantees and marks one of the biggest ownership shifts in Nigeria’s power sector in years.
Backed by partners including North South Power, Axxela and the Stanbic IBTC Infrastructure Growth Fund, the new owners say they plan to raise distribution capacity toward 1,500 megawatts, an ambitious target in a sector constrained by grid limits and collections.
From federal road maintenance to hydropower at Shiroro, Peters’ career has steadily converged on infrastructure. Now, Eko DisCo is the test of whether capital and execution can deliver steadier electricity for homes and industry.
