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Ikeja Electric

Ikeja Electric is Nigeria’s largest power distribution company, serving over one million customers in the city of Lagos. Ikeja began its new phase of expansion in 2013 following the handover of the Power Holding Company of Nigeria (PHCN) to the North East Development Commission (NEDC)/Korea Electric Power Corporation (KEPCO) Consortium under the privatisation scheme of the Nigerian federal government.

Summary

Ikeja Electric provides some information on its urban sustainability efforts but lacks disclosure on several key topics. The company outlines a double materiality approach, in line with the GRI Standards, to identify key sustainability impacts. However, it can strengthen its governance by publicly assigning responsibility for the oversight and implementation of its sustainability strategy, and disclosing measurable, time-bound targets for addressing its material impacts.

The company states its overarching goal is to deliver clean and affordable energy. However, it lacks quantitative reporting on topics such as air pollution, greenhouse gas emissions, water withdrawal and the affordability of its services, making it challenging to evaluate its overall impact on people and the planet. Next to reporting this data, the company should also disclose its processes and actions for minimising its negative impact in these areas.

Ikeja discloses clear policy commitments towards anti-corruption and responsible lobbying. The company should broaden these policies to encompass all fundamental human and labour rights specified by the United Nations and International Labour Organisation (ILO), and enforce these commitments across all operations and business relationships.

Ranking position: #130 /300
Total score: 12.7 /100

Measurement area	Score	Rank (0-300)
Governance & Strategy	#1 11.7 /100	#124
Inclusive Cities	#1 28.3 /100	#69
Healthy Cities	#1 4.2 /100	#138
Climate Proof & Resilient Cities	#1 0.0 /100	#170
Core Social Indicators	#1 19.4 /100	#104

Industries
Energy distribution	#30

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More about the company

Headquarters: Nigeria
Ownership structure: Private
Revenue: -
Number of employees: -
Website: https://www.ikejaelectric.com/

This company is part of the SDG2000, the 2000 most influential companies

See company profile SDG2000