Monthly revenue generation by the Ikeja Electricity Distribution Company from Oshodi and Ikeja business units has increased from N6.5 million it earned during the pre-privatisation period to N2.2 billion.
Specifically, Ikeja electricity unit now generates N1.1 billion monthly compared to N400,000 in the pre-privatisation period while revenue from Oshodi unit has also increased from N602 million to N1.2 billion during the same period under review.
The Manager for the Ikeja Business Unit, Christopher Lawal, while briefing the Bureau of Public Enterprises (BPE) team, led by a Deputy Director in the Bureau’s PPM Department, Ignatius Ayewoh, disclosed that because of the benefits of privatization, leakages have been blocked and the unit now generates N1.1 billion monthly, compared to the N400,000 in the pre-privatization period.
According to him, two multi-national companies in the area-Cadbury Nigeria Plc and Nigerian Bottling Company Plc, since inception, have been generating their own power but with the privatization, plans have reached the advanced stage to hook them back on the Ikeja Electric’s power network.
Lawal said the unit has 28 injection stations and supplies its customers with 80 to100 megawatts of electricity though the required demand is 376 megawatts.”We plan to up the current supply to 250 megawatts”, he added.
At the Oshodi Business unit, its Manager, Sunday Oyewale said the unit collects N1.211 billion monthly, compared with N602 million in the pre-privatization period.
He said because of the improvement in services, 134,000 customers were now on its network compared to 128,000 in the pre-privatization period, expressing optimism that the figure will soar after the metering excerse of customers.
According to him, following privatization, customers have begun to follow the rules, while the older ones are being re-oriented.
He added that for a seamless service delivery to the customers, one marketer was assigned to 900 customers as against the previous arrangement of one marketer to 1,500.