Updated: Eko Disco loses 30% of electricity to power thieves

Eko Electricity Distribution Company is losing about 30 percent of its allocated electricity from the Transmission Company of Nigeria (TCN) valued at about N1bn monthly to power theft.

Theft of electricity has become so rampant that even prominent individuals and companies are involved in the shady practice.

Power distribution companies already challenged by illiquidity in the sector, vandalism of power assets, huge debts by government ministries and departments, and armed forces especially the army further have to contend with rampant power theft.

Oladele Amoda, managing director and chief executive of Eko Disco disclosed this at the 3rd anniversary press briefing yesterday in their Marina office in Lagos.

He said that a recent raid at highbrow Lekki area in Lagos yielded several houses where meters have been by-passed by even highly placed individuals. 

“We have now decided to take measures including creating awareness and naming and shaming the perpetrators of this practice” said Amoda.

Using channels such as social media pages, the company’s websites and adverts in major newspapers, the company is warning the public against the action which it said is compounding their problems.

“If after warning those affected and they continue we would have no recourse to name and shame them as well institute legal action against them,” Amoda said.

At a recent Nigerian Electricity Regulatory Commission (NERC), Eko disco was rated the second best performing disco on account of innovative ideas by the management led by Amoda to improve performance.

The company struggles in the area of metering customers. When it came into operation three years ago, it targeted rolling out 600,000 meters for customers within its network and made a commitment towards 187,000 meters in the short term but has succeeded in delivering only 67,000.

“The entire plan is supposed to cost N52billion but due to the challenge if illiquidity in the sector, we spent N5billion on metering,” Amoda said.