‘IBEDC Losing N1.6bn Monthly to Estimated Billing’

Kemi Olaitan

The Chief Operating Officer (COO), Ibadan Electricity Distribution Company (IBEDC), Mr. John Ayodele, yesterday raised the alarm over challenges facing the distribution companies in the country, saying IBEDC was losing N1.6 billion monthly to estimated billing and other issues bordering on metering.

Ayodele, who made the disclosure while addressing journalists in Ibadan yesterday, lamented that the company was running at a loss.

According to him, the distribution companies in the country are facing difficult challenges to survive.

Ayodele said some of the reasons the company was losing money was as a result of the attitude of the consumers which include bypassing of meters and high level of poverty which make it difficult for them to pay their bills.

He said the electricity company would have folded up if not that it has remained committed to the service it is rendering to members of the public.

He stressed that the company was operating in a very difficult terrain.

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

“We are losing money. We are losing about N1.6 billion to estimated billing alone. There is a lot of problem with metering. We are running at a loss, if it is not a business that it is tied to service, the company would have been bankrupt by now.
“If you have anybody who is ready to partner with us, we will welcome such people. People who can give us plant in anywhere in our area. People who can assure us 90 per cent availability of power all the time.”