N240bn customers’ debt hampering our investment – IBEDC

The Ibadan Electricity Distribution Company (IBEDC) has lamented that over N240 billion owed the company by customers across the country is hampering its investment.

The IBEDC coordinating head Corporate Services, Angela Olanrewaju, disclosed this during the commissioning of the Budo Osho 1x15MVA, 33/11KV injection substation in Ilọrin, the Kwara State capital.

While calling on the people to own the project and play their part by paying bills regularly, Olanrewaju said the outstation will improve the power situation in the area.

“We have over N240bn outstanding payments from our customers. With such money out there, it’s difficult to invest, buy transformers and rehabilitate our lines. This outstation is over half a billion naira and with that kind of money coming into our coffers, you can imagine how we will serve our customers,” she said.

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On his part, the Managing Director/Chief Executive Officer of IBEDC, Engr Kingsley John Achefe, said Kwara State has the highest incidents of vandalisation of its facilities and equipment among all its franchises in the country.