Transgrid Enerco Ltd’s Bold New Chapter — After Acquiring 60% of Eko DisCo in a ₦360 Billion Deal

In a move that’s quickly shaping up to be one of the most talked-about corporate developments in Nigeria’s energy sector for 2025, Transgrid Enerco Limited has officially acquired 60 percent of the Eko Electricity Distribution Company (Eko DisCo) in a transaction valued at approximately ₦360 billion (about $200 million), closing the deal on December 30, 2025 after months of negotiations and regulatory review.

Company Snapshot — Transgrid Enerco Limited

Transgrid Enerco is not a single founder-led startup but rather a strategic energy investment consortium formed by a blend of powerful infrastructure investors and energy sector entities. It brings together:

• Stanbic IBTC Infrastructure Growth Fund (SIIF) — The biggest infrastructure-focused private equity fund in Nigeria.
• North-South Power Company Limited (NSP) — A major power generator that owns the Shiroro hydroelectric plant.
• Axxela Limited — A leading natural gas infrastructure and energy solutions company in Nigeria. Transgrid Enerco

While the group doesn’t publicly highlight a single founder, this structure means leadership and strategic direction come collectively from institutional partners with deep expertise in finance and energy infrastructure.

What the Eko DisCo Deal Means

Eko Electricity Distribution Company — often called Eko DisCo — is one of Nigeria’s most commercially viable electricity distributors, serving southern Lagos and parts of Ogun State, with a dense customer base and significant revenue collection ability. Wikipedia

By securing a controlling 60 percent stake, Transgrid Enerco isn’t just buying ownership — it’s stepping into a central role in Nigeria’s power distribution landscape. The consortium has stated plans to:

• Modernize infrastructure and improve service reliability.
• Ramp up metering and customer experience.
• Ramp distribution capacity from roughly 513 MW towards bigger goals in the coming years.

Investors see this as a benchmark deal — a purely commercial, negotiation-driven transaction rather than a forced or distressed sale — signaling growing confidence and maturity in Nigeria’s energy market.

Company Value & Strategic Worth

While Transgrid Enerco isn’t publicly listed and hasn’t disclosed detailed balance sheets, its acquisition of Eko DisCo for ₦360 billion places a conservative implied enterprise value of that scale on the business it now controls. Given Eko DisCo’s commercial strength, industry watchers see this as a foundation for future growth and investment returns. Businessday NG

The consortium itself is valued less by traditional market capitalization and more by the strength and balance of its backers — institutional capital from SIIF, energy assets from NSP, and sector integration through Axxela.

Leadership Mention — Brett Redman

You also asked about Brett Redman — but it’s important to clarify that the Brett Redman widely known in the energy industry is not connected to Transgrid Enerco or this Nigeria deal as far as public records show.

The Brett Redman you’re likely referring to is an Australian energy executive who serves as CEO of Transgrid (Australia), the high-voltage electricity transmission operator in New South Wales and the Australian Capital Territory. He’s a seasoned energy leader with decades of industry experience, including leadership roles at AGL Energy and on energy advisory boards. Transgrid

However:

• This Brett Redman is linked to the Australian Transgrid, not Transgrid Enerco Ltd (Nigeria).
• There’s no verifiable public record of him serving as founder, CEO, or board member of Transgrid Enerco in Nigeria. (If there’s a new person with the same name involved in the Nigerian consortium, that isn’t widely reported yet.)

So as of now, it’s safest to treat Brett Redman as relevant in the global energy world but not directly tied to Transgrid Enerco’s Eko DisCo acquisition in Nigeria. Champions Of Change Coalition

Why This Deal Matters

• It’s one of the largest privately negotiated power sector acquisitions in Nigeria since the 2013 privatization of the electricity industry. Nairametrics
• It signals a shift toward market-driven consolidation and investment rather than regulatory or distress-induced ownership changes. Businessday NG
• For Lagos and Ogun power consumers, it could mean better infrastructure investment and service improvements over time. ThisDayLive