Revenue: Ikeja DISCO rakes in over N2bn revenue

The Ikeja Electricity Distribution Company (IEDC) has disclosed that following blocking of leakages after taken over the company, it was now making a monthly income of N2.2 billion from Oshodi and Ikeja business units.
It said the same business units were making an average of N6.5 million during the pre-privatisation period.
Briefing a team of Bureau of Public Enterprises (BPE), the manager, Ikeja business unit, Christopher Lawal, explained that the Ikeja electricity unit now generates N1.1 billion monthly compared to N400,000 in the pre-privatisation period, while revenue from Oshodi unit had also increased from N602 million to N1.2 billion.

The BPE team, which was on a working visit to the company, was  led by a deputy director, PPM department, Ignatius Ayewoh.
Lawal further disclosed that the Cadbury Nigeria Plc and Nigerian Bottling Company Plc had been generating their own power but with the privatization, plans had reached advanced stage to hook them back on the Ikeja Electric’s power network.

He said the unit had 28 injection stations and supplies its customers with 80 to100mw of electricity though the required demand was 376mw, informing that there was plan to ramp up the current supply to 250mw.
He said the unit had installed 1,200, with Guinness Nigeria Plc as its highest paid customer which rakes in between N26 to N27 million monthly.
Corroborating, Lawal, the manager of Oshodi business unit, Sunday Oyewale, said the unit collects N1.211billion monthly, compared with N602 million in the pre-privatization period.
Attributing the feat to improved services, he said 134,000 customers were now on its network compared to 128,000 in the pre-privatization period.