EKEDCP Spends Over N1.44bn On Projects Expansion To Boost Electricity Supply | Independent Newspapers Limited
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EKEDCP Spends Over N1.44bn On Projects Expansion To Boost Electricity Supply

NDPHC
Posted: Nov 3, 2016 at 3:24 am   /   by   /   comments (0)
 
Charles Okonji
 
The Eko Electricity Distribution Company Plc (EKEDCP), yesterday, said that it spent over N1.44 billion on projects expansion to boost electricity supply to customers in the last three years.
The EKEDCP Chief Executive Officer, Mr. Oladele Amoda, disclosed this in Lagos during an interactive session with the media to mark three-year post privatisation of handing over of distribution companies to new owners.
The Federal Government, on November 1, 2013, handed the transactions of the five generation companies and 11 distribution companies to private owners.
Amoda said that the company had embarked on massive rehabilitation and reinforcement of dilapidation of its network, adding that over 400 transformers had been installed in various locations to reduce low shedding of supply.
He said that the company had embarked on construction of new five injector substations within its network to beef up supply to major areas of the state which is expected to be completed in the third quarter of 2017.
He stated: “We have commenced construction of five 33/11KVA injection substations in Surulere, Ikoyi and Ajah axis which would cost the company over N1 billion. EKO disco had made modest improvement in electricity supply in the last three years of post-privatisation but still confronted with little challenges.
“Over N1.44 billion had been spent on various projects expansion within the company to boost electricity supply to customers in the last three years,” he stressed.
The EKEDCP boss said that more than N53 billion would be required for effective metering of customers within its network, disclosing that over N5 billion had been spent on metering of maximum demand and non-maximum demand customers to date.
He said that about 6,000 meters had been pencilled down for roll-out to different customers, while over 67,000 had been installed out of 187,000 meters delivered by manufacturer.
Amoda said that energy theft and vandalisation of equipment posed serious challenge to the company, adding that billions of naira had been spent to replace vandalised equipment.
According to him, the money that was meant for expansion and development of the network was been used to replace vandalised equipment, which posed serious concern to the company.
He said that despite all success recorded, the company was still faced with liquidity challenges which stood at about N900 billion gap due to high rate of foreign exchange.
He noted that policies of government on foreign exchange had made international lenders sceptical of giving loans to power industry in the country which also posed serious challenge to power investors.
According to him, inability of Federal Government Ministries, Department and Agencies (MDAs) to pay their outstanding debts of over N11 billion owing EKEDCP as at July 2016 affected the company greatly.
Amoda said: “To enhance productivity of the workforce, staffs had undergone training and are still going through training in different areas in business process development, strategic customer relationship, safety, technical efficiency and revenue cycle management. We have invested over N55.2 million on staff training and capacity development.