IBEDC Generates N7bn Monthly

Ibadan Electricity Distribution Company (IBEDC) generates over N7 billion revenue monthly from its coverage areas.

The Chief Technical Officer of IBEDC, Mr Akin Abiodun, disclosed this on Saturday during the inauguration of a new 2.5MVA, 33KV/11KV transformer at Owode-Egba community in Obafemi-Owode Local Government area of Ogun.

Abiodun, who said that out of the amount, a total of N2 billion was being generated from the state, however, expressed the regret that Owode-Egba community was owing the company not less than N300 million.

“Before now, we used to collect about N6 billion but now, we have moved to N7 billion and of course, the entire Ogun region gives us N2 billion, that is, one-third of our revenue,” he said.

The News Agency of Nigeria (NAN) reports that the inauguration of the transformer came after the community had suffered power outage for more than eight months.

NAN reports that youths in the community had, in January, protested the outage, lamenting that all their efforts at replacing the old transformer, which got burnt, had not yielded any result.

Speaking at the occasion, the lawmaker, representing Abeokuta North, Odeda and Obafemi Owode constituency in the House of Representatives, Mr Olumide Osoba, appealed to people of the community to pay their electricity bills regularly to ensure quality service by IBEDC.

In his remarks, a community leader, Abdul-Fatai Soyoye, said that the installation of the new transformer would boost commercial activities in the community, expressing happiness that the eight-month blackout would finally come to an end.

“Today is one of the happiest days in Owode-Egba because since Aug. 9, 2020, there had not been electricity supply,” he said, expressing appreciation to everyone who had contributed to achieving the feat.”