Ibadan Electricity Distribution Company (IBEDC) said it has expended over N11.5bn worth of investments on metering, network upgrade and rehabilitation of its network operations.
The company’s Managing Director, Mr. John Donnachie, who disclosed this during a media facility tour and equipment inspection in Ibadan, Oyo State, said part of the investment was for procurement of Distribution Transformer (DT) meters worth N4bn, as well as the purchase of energy meters of various capacities at the cost N3.1bn, among others.
Represented by the Chief Operating Officer, Mr. John Ayodele, Donnachie noted that the major capital projects, which span their franchise areas of Oyo, Ogun, Osun, Kwara, parts of Kogi, Niger and Ekiti States, are focused on the gradual automation process.
The company also explained its intention to meter about 11,000 customers in two months, as 95 per cent of customers under the Credited Advance Payment for Metering Implementation (CAPMI) scheme before privitisation would be settled.
Source: The Guardian