Home Oyo State IBEDC reveals it generates over N7 billion revenue monthly

IBEDC reveals it generates over N7 billion revenue monthly

by Jibson
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According to report reaching oygist.com, Ibadan Electricity Distribution Company (IBEDC) says it generates over N7 billion revenue monthly from its coverage areas.

The Chief Technical Officer of IBEDC, 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.

Speaking at the occasion, the lawmaker, representing Abeokuta North, Odeda and Obafemi Owode constituency in the House of Representatives, 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,” he said

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