A N360 billion ($250 million) takeover that reshapes one in every of Nigeria’s prized electrical energy territories has pushed Olubunmi Peters into view. Peters chairs Transgrid Enerco Ltd., the consortium that acquired a 60% stake in Eko Electrical energy Distribution Co., which serves elements of Lagos and the Agbara industrial space in Ogun state.
The Dec. 30 signing capped a sale by West Energy & Gasoline Ltd., referred to as WPG. Experiences stated N180 billion was paid in money, with the rest backed by financial institution ensures. The frenzy to shut got here forward of a brand new capital positive aspects tax regime set to start Jan. 1, 2026.
Transgrid Enerco’s lineup reveals how infrastructure capital is clustering round energy property. The group contains North South Energy, Axxela and the Stanbic IBTC Infrastructure Development Fund. The brand new house owners have talked of elevating distribution capability to about 1,500 megawatts, a steep climb in a sector nonetheless hit by grid limits and weak collections.
Peters constructed a lot of his public profile exterior electrical energy, by street upkeep and federal service. A civil engineer, he served as managing director and chief government of the Federal Roads Upkeep Company in 2003 and 2004, then returned to guide the company from 2006 to 2009. Associates recall a supervisor centered on planning, budgets and discipline supply.
Peters earned a civil engineering diploma from the College of Texas at El Paso and later accomplished a grasp’s program in freeway engineering at California State College, Los Angeles. He has additionally been described as an infrastructure supervisor with an curiosity in engineering economics.
After leaving authorities, his footprint widened into finance, healthcare and information companies. Public listings hyperlink him to the FirstCentral Credit score Bureau as a director, and to roles related with Pay as you go Medicare Providers and Covenant Securities and Asset Administration. He has additionally been related to ICIB and BP Investments, a holding firm with pursuits throughout sectors.
Energy is now the clearest thread. Peters is government vice chairman and chief government of North South Energy, operator of the 600 megawatt Shiroro hydropower plant beneath a long run concession. In 2024, Nigeria’s sovereign wealth fund introduced a three way partnership with the corporate for a 20 megawatt on grid photo voltaic and hydro hybrid pilot at Shiroro.
Now, with Eko DisCo beneath new management, Peters and his companions should translate capital and credibility into steadier electrical energy for houses, ports and factories. The market will decide them shortly there.
