Contrary to claims that new investors refused to invest in the privatized power sector, the management of Ibadan Electricity Distribution Company (IBEDC) has explained how it invested over N2.5billion on new project expansion to boost effective power supply to customers.
The Chief Executive Officer (CEO)/Managing Director, IBEDC, John Donnachie, made it known that the company had invested over N2.4billion on new power project expansion, apart from over N11.5billion invested on metering, network upgrading and rehabilitation.
Donnachie who was represented by the company’s Chief Operating Officer, John Ayodele said that the company had embarked on massive rehabilitation and reinforcement of dilapidation of its operation, adding that over 200 transformers had been installed in various locations to reduce low shedding of supply.
According to him, the company had embarked on newly installation of 14,293 distribution transformers to various locations of its operations for effective billing and accountability.
The IBEDC CEO said that the company had installed 14 Sets of 11kV 7-Board Panels, adding that it has also extended and installed 1No. 500kVA, 33/0.415kV Transformer at Imeleke Community, Igbo-Ora under Oyo Region.