The Integrated Energy Distribution and Marketing Limited (IEDML), which took over Ibadan and Yola Electricity Distribution Company (IEDC) has expressed its readiness to inject the required funds, and invest massively in human capital development that would ensure stable electricity supply in its area of operation.
Vice-Chairman of Integrated Energy Distribution and Marketing Limited, Olatunde Ayeni who disclosed this in Ibadan after the handover ceremony of Ibadan and Yola DISCO, said the company would embark on massive human capital development, and ensure a more robust power supply in the Ibadan Electricity Franchise area which comprises of Oyo, Ogun, Osun and parts of Kwara, Kogi and Niger States.
According to him, business would no longer be as usual as their staff and supply chain partners would be trained to work in a more determined, proactive and result-oriented manner.
Ayeni further stated the new owner will acquire needed infrastructure and upgrade current ones to ensure a sustainable power distribution environment adding “we will prioritize our investments in power distribution and concentrate on those areas where the investment of capital will yield most benefits to businesses and the people of host communities”.
Viewed from a socio-economic development perspective, he said, the franchise areas boasts of manufacturing plants and industries in Nigeria, saying that a more stable power supply will ensure increased economic activities in the host states.
“We will therefore manage the assets of the IEDC prudently so that it can continue to provide our host states with the much-needed electricity,” he added.
The company, he noted, will adopt strategies to ensure improved and steady supply of power in the franchise area with the utilization of mechanisms such as smart meters, transparent billing; transparent collections system, use of technology to enhance resolution of power consumption related complaints, institution of adequate and timely resolution of customer complaints and billing disputes.
“We will promote a culture of energy saving in our homes, businesses, industries and offices and also adopt energy conservation as a way of life and contribute towards sustainability” he added.
At the handing over ceremony which had Anatazia Daniel Nwaobia Permanent Secretary Ministry of Finance, who represented Vice President Namadi Sambo, Governors of Ogun and Oyo, Ibikunle Amosun and Abiola Ajimobi respectively as well as Chairman, Transition Committee, Bureau of Public Enterprises, Ayeni disclosed that integrated has engaged the services of one of world most reputable electricity companies- the Manila Electric Company MERALC0 from Philippines to provide technical and management services.
“With over 110 years’ experience, MERALCO is the largest electricity distribution utility in the Republic of Philippines, the company provides power to 5.2 million customers, and operates in 8 provinces covering 29 cities and 82 municipality, an area that is home to about 25 percent of the Philippine population (23.7 million), its service area accounts for 50 percent of the country’s GDP and it is responsible for 55 percent of the country’s energy sales.”
The handing over concludes the final stage of the transaction for the 4 generation companies and 10 distribution companies.
Skye Bank Plc was the lead Arranger that facilitated and pooled the required financial backing with support from other banks for the preferred bidder, Integrated Energy, which is the only company to have won the bid to run two DISCOS – Ibadan and Yola during the power privatization exercise.