The Bureau of Public Enterprises(BPE) has said that it would take five years for power distribution and generating companies to reap requisite returns on their investment in the sector.
This is because of the age long rot in the distribution networks which heighten aggregate technical and commercial losses in the system.
Director-General of Bureau of Public Enterprises(BPE),Engineer Benjamin Dikki,disclosed this yesterday during his visit to Eko Electricity Distribution Company as part of the Bureau’s evaluation of the privatized power entities in the country.
Dikki,who said Kainji Dam and Egbin power stations didn’t witness major turn-around before privatization,absolved power investors of the current woes besetting the sector.
Speaking,Managing Director of Eko Distribution Company,Engineer Oladele Amoda,said his company met a dilapidated network when it acquired the asset in November 2013.
He said his company has also fashioned a robust metering system which have currently benefited over 52 ,000 customers in the zone.
He said his company intends to meter 400,000 customers in the zone just as he stated that the company is looking at additional 200,000 customers in the next four years.
“In four years,we want to be able to meter 600,000 customers at N52billion cost.That’s is why we planned it in phase”, he added.
