Ikeja Disco earns N2.2b monthly from two business units

Ikeja-Electricity-Distribution-CompanyMonthly revenue generation by the Ikeja Electricity Distribution Company from Oshodi and Ikeja business units has increased from N6.5 million it earned during the pre-privatisation period to N2.2 billion.

Specifically, Ikeja electricity unit now generates N1.1 billion monthly compared to N400,000 in the pre-privatisation period while revenue from Oshodi unit has also increased from N602 million to N1.2 billion during the same period under review.

The Manager for the Ikeja Business Unit, Christopher Lawal, while briefing the Bureau of Public Enterprises (BPE) team, led by a Deputy Director in the Bureau’s PPM Department, Ignatius Ayewoh, disclosed that because of the benefits of privatization, leakages have been blocked and the unit now generates N1.1 billion monthly, compared to the N400,000 in the pre-privatization period.

According to him, two multi-national companies in the area-Cadbury Nigeria Plc and Nigerian Bottling Company Plc, since inception, have been generating their own power but with the privatization, plans have reached the advanced stage to hook them back on the Ikeja Electric’s power network.

Lawal said the unit has 28 injection stations and supplies its customers with 80 to100 megawatts of electricity though the required demand is 376 megawatts.”We plan to up the current supply to 250 megawatts”, he added.

The Manager informed the team that the unit has blazed the trail in metering as 1,200 meters have been installed for customers and that Guinness Nigeria Plc is its highest paid customer which rakes in between N26 to N27 million monthly.

At the Oshodi Business unit, its Manager, Sunday Oyewale said the unit collects N1.211billion monthly, compared with N602 million in the pre-privatization period.

He said because of the improvement in services, 134,000 customers were now on its network compared to 128,000 in the pre-privatization period, expressing optimism that the figure will soar after the metering excerse of customers.

According to him, following privatization, customers have begun to follow the rules, while the older ones are being re-oriented.

He added that for a seamless service delivery to the customers, one marketer was assigned to 900 customers as against the previous arrangement of one marketer to 1,500.

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  • Okwy

    It is unfortunate that there is much revenue but less customer satisfaction.

  • Omooba

    Most of the revenue through the exploitative and criminal estimated bills in the wake of blackouts and outages. God is in control if PMB continues to look the other way with indifference.

  • Babatope

    This revenue can’t not be justified, the billing at Oshodi is just ridiculous and with the kind of money they are making they will never want to provide prepaid meter and NERC does not care. God save us from this evil

  • gtjimoh

    Is that what this is all about, reaping people off in the name of privatization and generating more revenue, Where is the light that justify such huge amount being generated in just one month in just one district?

  • emmanuel kalu

    It is sad that a government agency like BPE would be listening to this power company boast of how they have being looting Nigeria. every government agency should be focusing on pushing this power companies to meter their customer and stop the looting via estimate bill. This estimate bill is only practiced in Nigeria, it is just pure legal looting of the people, especially since the produce is not provided. The government has to mandate this power companies to immediately meter everyone and stop delay with this stupid pilot program. why is a pilot program necessary to meter electricity consumer. is this a new inventions? They are using every excuse to delay while the continue to loot people, and regulators turn their eyes. source the meters from Nigeria producers, install the meters within a day on the costumer building, hook it up and begin to bill accurately.