‘Ibadan Electricity Coy requires N30bn to procure pre-paid meters for consumers’

11 February 2016, Lagos – Chairman, Ibadan Electricity Distribution Company, Mr. Tunde Ayeni, has hinted that the company would require N30 billion to procure pre-paid meters  for the electricity consumers  in its area of coverage.

*Electricity meters.

*Electricity meters.

He however appealed to the consumers to be patient with the company in its efforts to reposition it for quality service delivery.

Ayeni spoke with journalists in Ilorin on Wednesday shortly after paying a courtesy call on the Kwara state governor, Alhaji Abdulfatah Ahmed, at Government House, Ilorin, and Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari.

According to him,”The current business agreement that exists between the company and the BPE does not allow the company to source for such huge amount to buy meters for its numerous consumers in its areas of coverage”.

He explained that 30 per cent was based on equity and 70 per cent on debts.

He stated that no banker would give any further advancement to the company unless it possesses a standard resource base ‎to match the current trend in business development.

 

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