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IBEDC generates N7bn monthly – Official

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The Management of Ibadan Electricity Distribution Company (IBEDC), says the company generates over N7billion as revenue monthly from its coverage areas. 

 Mr Akin Abiodun,  the Chief Technical Officer of IBEDC, 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 state. 

Abiodun noted that out of the over N7billion generated by the company monthly,  N2billion came from the state alone . 

He hinted that one-third of the company’s revenue came from the state but regretted that the Owode-Egba community still  owed the company not less than N300million.

“On the entire monthly collection, we have been collecting over N6billion but recently, we moved  into N7billion and of course the entire Ogun region gives us N2billion. One-third of our revenue is from Ogun state,” he said. 

The  commissioning of the transformer came after the community had suffered over  eight months power outage.  

The youths in  community had in January protested the  outage, lamenting that all their efforts to ensure that the IBEDC replace the old transformer which got burnt failed to yield any positive result.

Mr Olumide Osoba, Federal lawmaker , representing Abeokuta North, Odeda and Obafemi Owode constituency, appealed to people of the community to pay their electricity bills on time to enable the IBEDC continue to give quality service.

Abdul-Fatai Soyoye , the community youth leader, said that the installation of the new transformer would boost commercial activities in the community,  adding that eight months of blackout would finally come to an end.

“Today is one of the greatest day in Owode- Egba because since August 9 last year there has not been electricity, but today we are appreciating everybody that has put efforts together to achieve this including IBEDC,” he said. 

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