{"id":172826,"date":"2025-08-07T11:44:43","date_gmt":"2025-08-07T10:44:43","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/confusion-over-ikeja-disco-egbin-power-takeover"},"modified":"2025-08-07T13:00:16","modified_gmt":"2025-08-07T12:00:16","slug":"confusion-over-ikeja-disco-egbin-power-takeover","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover","title":{"rendered":"Confusion Over Ikeja DisCo Egbin Power Takeover"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>There is confusion over the alleged takeover of ownership at Ikeja Electric, Egbin Power (KEPCO Energy Resources), and Independent Power Limited by Nigerian banks and other parties over debt.<\/p>\n<p>There are reports that a Lagos High Court presided over by Justice Akintayo Aluko handed a receivership ruling on August 5, 2025, to the power firms based on their debt agreement in 2013 in suits Nos., FHC\/L\/CS\/1242, FHC\/L\/CS\/1244, and FHC\/L\/CS\/1245.<\/p>\n<p>However, in a statement by Ikeja Electric chief legal and regulatory officer, Babatunde Osadare, he dismissed the report that the companies slid into receivership.<\/p>\n<p>According to him, the court ruling rather restrained the lenders and their purported receiver\/manager from taking any adverse actions.<\/p>\n<p>\u201cWe state unequivocally and for the record that Egbin Power Plc, First Independent Power Limited, and Ikeja Electric Plc are not in receivership, and their assets, businesses, or undertakings are not under the management of any external receiver\/manager whatsoever,\u201d he said.<\/p>\n<p>Meanwhile, as the confusion lingers, the development worsens Nigeria\u2019s power sector crisis since the 2013 privatisation processes.<\/p>\n<p>DAILY POST reports that outside Ikeja Electric, five Nigerian electricity distribution companies are already under receivership, including Abuja, Benin, Kaduna, Kano, and Ibadan.<\/p>\n<p><b>Intervene urgently to prevent complete collapse of the National Power Ecosystem \u2013 CPPE<\/b><\/p>\n<p>Reacting to the development, the Centre for the Promotion of Private Enterprise asked the federal government to intervene to save the power sector from collapse.<\/p>\n<p>In a statement on Wednesday by its Chief Executive Officer, Muda Yusuf, he said the report of Ikeja Electric receivership highlights the continued challenges within the country\u2019s power sector, which he described as a \u2018troubling conundrum\u2019.<\/p>\n<p>According to him, the crisis in the sector stemmed from a flawed privatisation process, limited technical and financial capacity of the power distribution firms, problematic pricing, and tariff structures.<\/p>\n<p>He said the ultimate victims of a power sector collapse are citizens, industries, and investors.<\/p>\n<p>The economic think tank, therefore, urged that, \u201cGiven the power sector\u2019s strategic importance, government\u2019s urgent intervention is imperative to prevent a complete collapse of the national power ecosystem.<\/p>\n<p>\u201cThe power sector is not just a business; it is crucial for economic development, economic sustainability, and economic security,\u201d CPPE stated.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. There is confusion over the alleged takeover of ownership at Ikeja Electric, Egbin Power (KEPCO Energy Resources), and Independent Power Limited by Nigerian banks and other parties over debt. There are reports that a Lagos High Court presided over by Justice Akintayo Aluko handed a receivership ruling on August 5, 2025, to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":172825,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[10783,18290,6566,254],"class_list":["post-172826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-cppe","tag-egbin-power","tag-ikeja-discos","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Confusion Over Ikeja DisCo Egbin Power Takeover - Nigeria<\/title>\n<meta name=\"description\" content=\"There is confusion over the alleged takeover of ownership at Ikeja Electric, Egbin Power (KEPCO Energy Resources), and I ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Confusion Over Ikeja DisCo Egbin Power Takeover\" \/>\n<meta property=\"og:description\" content=\"There is confusion over the alleged takeover of ownership at Ikeja Electric, Egbin Power (KEPCO Energy Resources), and I ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-07T10:44:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-07T12:00:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/08\/sm_1754555513.65415.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Confusion Over Ikeja DisCo Egbin Power Takeover\",\"datePublished\":\"2025-08-07T10:44:43+00:00\",\"dateModified\":\"2025-08-07T12:00:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\"},\"wordCount\":386,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/08\/sm_1754555513.65415.jpg\",\"keywords\":[\"CPPE\",\"Egbin Power\",\"Ikeja Discos\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/confusion-over-ikeja-disco-egbin-power-takeover\",\"name\":\"Confusion Over Ikeja DisCo Egbin Power Takeover - 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