We Incur N1.6Bn Monthly Running Business-IBEDC


We Incur N1.6Bn Monthly Running Business-IBEDC

The Ibadan Electricity Distribution Company (IBEDC) has disclosed that it is incurring about N1.6billion monthly on estimated billing and other metering-related issues.

The Chief Operating Officer (COO) of the company, Engineer John Ayodele, made the disclosure in Ibadan, today, and attributed the loss to the attitude of its consumers.

He said some the consumers of IBEDC often engage in bypassing their meters, adding that the high level of poverty in the land made it difficult for some others to pay their bills.

Ayodele acknowledged that IBEDC is operating in a very difficult terrain, adding that the company would have folded up, if the business was not tied to service.

“90 per cent of those complaining of estimated billing in the real sense of it does not want meters. They are comfortable with the N3,000 billing we are giving them monthly because many are using more than the amount.

“We are losing money. We are losing about N1.6billion for estimated billing alone. There is a lot of problem with metering. We are running at loss. If it is not a business that it is tied to service, the company would have been bankrupt by now,” he said.

Ayodele, however, implored members of the public to partner with IBEDC for better services, adding: “If you have anybody who is ready to partner with us, we will welcome such people.

“We want people who can give us plant in anywhere in our region. People who can assure us 90 per cent availability of power all the time.”