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Benin Electricity Distribution Company (BEDC Electricity Plc.) is responsible for the retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States, covering 57,353 square kilometres. BEDC is one of the successor distribution companies (DisCos) created following the privatization of the Power Holding Company of Nigeria Plc. The governments of the four states it covers recently signalled their intention to assert their shareholder rights in the company, with Delta and Edo State owning 14% and 8.4% of BEDC respectively, and Ondo and Ekiti States owning 6.6% and 5.2% respectively.
| Characteristics | Values |
|---|---|
| Company Name | BEDC Electricity Plc. |
| Former Name | Benin Electricity Distribution Company |
| Type | Privately Held |
| Industry | Electric Power Generation, Transmission and Distribution |
| Headquarters | Benin-City, Edo |
| Geographical Coverage | Delta, Edo, Ekiti, and Ondo States |
| Coverage Area | 57,353 square kilometres |
| Business Districts | 27 |
| Offices | 350 |
| Population Covered | 18 million |
| Ownership | Delta State (14%), Edo State (8.4%), Ondo State (6.6%), and Ekiti State (5.2%) |
| Website | www.bedcpower.com |
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What You'll Learn
- BEDC Electricity Plc (BEDC) is a privately-held company
- BEDC is responsible for electricity distribution in four Nigerian states
- BEDC was created following the privatisation of the Power Holding Company of Nigeria Plc
- The governments of the four states have shareholdings in BEDC
- BEDC has denied reports of a federal government takeover
BEDC Electricity Plc (BEDC) is a privately-held company
The company operates in 27 business districts, with around 350 offices located across the four states that it serves, providing electricity to about 18 million people. BEDC is headquartered in Benin-City, Edo, and has between 1,001-5,000 employees.
BEDC generates $194.94 million in sales and has been the subject of speculation regarding potential government intervention due to "operational challenges and failures in service delivery". However, the company has denied these claims, stating that its management and board are "intact and not dissolved".
The governments of the four states that BEDC serves have indicated their intention to assert their shareholder rights in the company. As of March 2024, Delta State, Edo State, Ondo State, and Ekiti State owned 14%, 8.4%, 6.6%, and 5.2% of BEDC, respectively.
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BEDC is responsible for electricity distribution in four Nigerian states
BEDC Electricity Plc (BEDC) is responsible for electricity distribution in four Nigerian states: Delta, Edo, Ekiti, and Ondo. The company was created following the unbundling and privatisation of the state-owned Power Holding Company of Nigeria Plc.
BEDC covers a geographical area of 57,353 square kilometres and operates from 27 business districts with around 350 offices located across the four states. The company provides electricity to about 18 million people, with approximately 4 million customers.
The governments of the four states—Edo, Delta, Ondo, and Ekiti—have a direct shareholding in BEDC. In March 2024, these governments signalled their intention to assert their shareholder rights in the company, citing operational challenges and failures in service delivery.
BEDC management, however, has stated that the company's board and management are intact and not dissolved, contrary to speculations in the public domain. They have assured stakeholders of their commitment to the success and growth of the company.
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BEDC was created following the privatisation of the Power Holding Company of Nigeria Plc
The Benin Electricity Distribution Company (BEDC Electricity Plc.) is one of the successor distribution companies (DisCos) created following the privatisation of the Power Holding Company of Nigeria Plc. BEDC is responsible for the retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States, covering a geographical area of 57,353 square kilometres. The company operates out of 27 business districts, with around 350 offices spread across the four states, serving a population of about 18 million people.
BEDC Electricity Plc. is headquartered in Benin-City, Edo, and employs between 1,001-5,000 people. The company generates $194.94 million in sales (USD).
In March 2024, the governments of Edo, Delta, Ondo, and Ekiti states signalled their intention to assert their shareholder rights in BEDC, citing "operational challenges and failures in service delivery". Delta and Edo states own 14% and 8.4% of BEDC, respectively, while Ondo and Ekiti states hold 6.6% and 5.2% stakes, respectively.
Despite these reports, BEDC management has stated that the company's board and management remain intact and unified in their commitment to the company's success and growth.
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The governments of the four states have shareholdings in BEDC
The Benin Electricity Distribution Company (BEDC Electricity Plc.) is responsible for the retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States in Nigeria. BEDC is one of the successor distribution companies (DisCos) created following the unbundling and privatisation of the state-owned Power Holding Company of Nigeria Plc.
BEDC Electricity Plc. is a privately held company headquartered in Benin City, Edo State. It operates in 27 business districts with around 350 offices across the four states, serving about 18 million people.
The governments of the four states—Edo, Delta, Ondo, and Ekiti—have direct shareholdings in BEDC. In a formal communication with the Nigerian Electricity Regulatory Commission (NERC) in March 2024, these state governments signalled their intention to assert their shareholder rights in BEDC. They cited "operational challenges and failures in service delivery" as the reason for their initiative.
The shareholdings of the four states in BEDC are as follows: Delta State owns 14%, Edo State owns 8.4%, Ondo State owns 6.6%, and Ekiti State owns 5.2%.
Despite the speculation and reports of a potential government takeover, BEDC's management has stated that its board and management remain intact and committed to the company's success and growth.
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BEDC has denied reports of a federal government takeover
BEDC Electricity Plc (BEDC) is one of the successor distribution companies (DisCos) created following the privatisation of the state-owned Power Holding Company of Nigeria Plc. The company is responsible for the retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States, covering 57,353 square kilometres.
In July 2022, the Federal Government announced the planned takeover of three electricity distribution companies, including BEDC, by Fidelity Bank Plc. This announcement sparked a series of legal battles as BEDC sought to prevent the takeover. The majority shareholder of BEDC, Vigeo Power Limited, commenced an action in the Federal High Court in Abuja, resulting in an order restraining the takeover pending the hearing and determination of a motion on notice dated July 8, 2022.
BEDC's legal advisers, the law firm of Kunle Adegoke (SAN), described the attempted takeover as illegal and argued that Vigeo Power Limited's 60% shareholding in BEDC was never collateralised in any loan transaction with Fidelity Bank or any other financial institution. They initiated contempt proceedings against the Federal Government's Bureau of Public Enterprise, stating that the BPE was attempting to justify its illegal actions in a publication issued on July 13, 2022.
In March 2024, BEDC refuted reports that the Federal Government had dissolved its board, describing the reports as "fake". In a statement, the acting Head of Corporate Affairs of the company, Evelyn Gbiwen, assured stakeholders that the news was "entirely false and baseless" and that the current Board and Management remained committed to the success and growth of BEDC. Gbiwen highlighted the company's achievements, including increased revenue generation and significant reductions in losses, as a testament to the hard work and dedication of the management and staff.
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Frequently asked questions
The Benin Electricity Distribution Company, also known as BEDC Electricity Plc, is owned by a combination of state governments and private entities. The governments of Edo, Delta, Ondo, and Ekiti states hold shares in the company, with direct shareholdings ranging from 5.2% to 14%. The company is also privately held.
The company is responsible for the retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States, covering a geographical area of 57,353 square kilometres.
The company is headquartered in Benin-City, Edo, and operates from 27 business districts with approximately 350 offices across four states.
According to LinkedIn, the company has between 1,001 and 5,000 employees.
BEDC Electricity Plc generates $194.94 million in sales (USD).
