Nigeria Business Information
No Result
View All Result
Saturday, May 21, 2022
  • Login
  • Register
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
Subscribe
Nigeria Business Information
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
No Result
View All Result
Nigeria Business Information
No Result
View All Result
Home Nigeria News

IBEDC Cries Out Over N8.5bn MDA Debt, Electricity Theft

by SAMUEL Olugbenro
August 26, 2021
in Nigeria News
Ibedc

Ibadan Electricity Distribution Company Plc (IBEDC) has cried out that it is owed over N8.5bn by ministries, departments and agencies of government.

IBEDC, which covers Oyo, Ogun, Osun and Kwara states as well as part of Kogi, Ekiti and Niger states, however put the debts owed to it by federal, state and local governments’ MDAs at N7.22bn, N1.15bn and N185.12m respectively

Speaking at a press briefing on Tuesday, the Chief Operating Officer, IBEDC, Mr. John Ayodele said planned to spend N91 billion in the next five years to improve network, meter customers and automate operations.

READ ALSO: NNPC to monitor fuel distribution electronically to check activities of smugglers – GMD

Ayodele said the Disco would deploy 104,000 meters in the first year and scale up yearly to ensure 98 per cent customer metering by 2024 to reduce losses

RelatedPosts

Ibadan Electricity Distribution Company (IBEDC)- Invitation For Prequalification And Request For Proposals (RFP) As Debt Recovery Agents

Ibadan Electricity Distribution Company (IBEDC)- Advertisement For Prequalification Of Manufacturers, Contractors, Suppliers And Service Providers For 2021 CBN Funded Projects (11 Lots)

He also disclosed that the company would install 530 distribution transformers and 112 feeders in two years in addition to upgrading most of its network assets.

On the challenges facing the Disco, Ayodele said, “Tariff is still not cost-reflective. Increasing energy cost is driven by the impact of worsening exchange rate on gas price, capital expenditure, inflation, constraints on the grid, and frequent collapse of the grid.

“Energy theft/vandalism is a big problem. We recorded over 15,032 cases of energy theft between January and July 2021. Seven out of every 10 new meters installed are bypassed in the first week of installation.”

According to him, IBEDC will complement grid energy supply by partnering with alternative power suppliers through franchising model, but lamented that the country lost over N200m last year as a result of about 122 cases of vandalism.

Ayodele stated that 95 per cent of IBEDC customer base do not pay their bills fully, even those that are metered and as at 2020, MDAs are owing over N8.5 billion.

He affirmed that discos are making huge losses monthly and the losses make it difficult for investors, both local and foreign, to invest in the industry.

TOOLKIT: Are You New to Tenders/Contract Bidding and Require Assistance? CLICK HERE

Tags: IBEDC
ShareTweetShare

POPULAR

  • Caritas

    Caritas Nigeria- Request To Quote For The Supply Of ICT Materials

    0 shares
    Share 0 Tweet 0
  • Check List of NGO/Governments Tenders with May 2022 Deadlines

    0 shares
    Share 0 Tweet 0
  • How to Check for your Individual TIN (Tax Identification Number) Online

    0 shares
    Share 0 Tweet 0
  • German Cooperation- Invitation To Tender For The Provision Of Construction And Engineering Services

    0 shares
    Share 0 Tweet 0
  • Mercy Corps- Invitation To Tender For Supply Of Shelter Construction Materials (2 Lots)

    0 shares
    Share 0 Tweet 0

Copyright © 2021. All Right Reserved Nigeria Business Information

No Result
View All Result
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription

Copyright © 2021. All Right Reserved Nigeria Business Information

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

instagram volgers kopen volgers kopen buy windows 10 pro buy windows 11 pro

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.