• Wednesday, June 12, 2024
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Eko DisCo proposes N18bn for 2023 capital expenditure

Eko DisCo annuls Tinuade Sanda’s sack, calls removal ‘erroneous, unilateral action’

Eko Electricity Distribution Company (Eko DisCo), one of Nigeria’s electricity distribution companies, has allocated the sum of N18 billion for its expenditure in 2023.

Tinuade Sanda, the managing director/CEO of the company, made this disclosure while reviewing the company’s 2022 performance and projections for the new year, saying the company would spend about N18 billion on capital projects which aims at improving services across its network area.

Sanda said the company is planning to increase its collaboration with Independent Power Producers (IPP) for an embedded generation as well as mini-grids to enhance power supply.

She said that this would increase customer satisfaction index while the management will deepen customer metering intervention through Meter Asset Provider, MAP program, and the National Mass Meter Programme, phases 1 and 2.

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The company is also planning to increase business development initiatives to make its services more attractive and recapture customers that migrated to alternative power sources.

Sanda noted that the company would make an effort to give field representatives the essential resources they need to do their jobs in order to fill the existing gap.

Some important aspects of the expenditures for the year included the opening of the transformer and equipment repair workshop, the inauguration of the EKEDP Training Institute, the recruitment of talent (EDTP), and the fencing of all distribution substations.

According to Sanda, the company has forecasted to achieve Aggregate Technical and Commercial Collection (ATC&C) Losses ranging between 18.92 per cent and 21.55 per cent.

Furthermore, the company is targeting total annual billing and collection above N200billion as well as full settlement of electricity market invoices in line with NERC Minimum Remittance Order

Other targets outlined by the managing director include increased profitability, dividend declaration and payment to shareholders, zero fatality and injuries, rehabilitation of all frequently tripped feeders to ensure uninterrupted power delivery, among others.