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Eko DISCO to invest $42b in five years to stabilize power delivery

By BusinessNews Staff on March 2, 2014

Eko Electricity Distribution Company of Nigeria Plc, Lagos, on Thursday, said it is determined to stabilise power supply in its area of operation, with plans to invest over $42 billion in infrastructure over the next five years as part of enhancing service delivery.

The funding is to be sourced from a combination of international investors and internally generated revenue.

The Chairman of the company, Charles Momo, who spoke in Lagos at the official commissioning EKo forum office in central Lagos Island, said the edifice is part of efforts to help settle customer complaints if not resolved by EKEDC management.

The event coincided with the 100-day celebration of the handing over to new core investors by the Federal government last year.

Speaking through Dr Tunji Olowolafe one of the Directors of the power distribution firm, the chairman said EKEDC, will in the next three months roll out repair plans geared towards rehabilitating faulty facilities that would stabilize electricity to end users. He pledged to communicate with the consumers through the media as part of the strategy of maintaining healthy relationship with all the stakeholders.

He commended the Lagos State Government for its support and cooperation during and after the acquisition of the assets.

Member of the House of Representatives’ Committee on Power, Abike Dabiri–Erewa, while declaring the edifice open, described it as a good development which will serve the needs of Lagos resident.

She lamented that supply delivery has deteriorated since the new investors took over, while the metering of consumers is absent resulting in crazy billing due to the disappearance of meters to check power consumption.

According to her it took between three to five days to fix metering challenges, but now meters have suddenly disappeared, subjecting consumers to hardship.

Dabiri–Erewa insisted that it is the right of the people to complain and raise alarm when things are going wrong ,adding that meters should be made available to consumers especially in rural area to lessen their yoke .

Commissioner of Energy Taofeek Tijani, who represented the Lagos State Governor, Babatunde Fashola, said t,he administration has so far built about 37 megawatts plant in Marina, Alausa and Akute, to energize public and private projects.

[Daily Independent]

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