Eko Electricity Distribution Company has disclosed that Ministries, Departments and Agencies owed the Disco N40bn as of December 2022.
The Managing Director of EKEDC, Tinuade Sanda, disclosed this during the 2023 Media Parley held on Thursday in Lagos.
According to her, the company’s total debt profile stood at N116bn as of December 2022.
She added that the value of vandalism in the company’s network rose to N2.5bn. Sanda said, “We want to work towards ensuring a minimum 20 hours electricity supply as we continue to get electricity from the power grid. Installation of transformers is still ongoing, and we have done 80 out of 150. We are moving closer and closer to our consumers. We tend to decentralise more so that our consumers can reach us.”
Sanda lamented the increased cost of doing business due to the scarcity of forex in the country, noting that the company has added two districts in Ajah and Ibeju in order to reach out more to its customers.
Speaking further, the chief executive officer explained that the recent increase in tariff was limited to consumers under Band A and B, which were customers who get an average of 16-20 hours electricity supply, adding that the differential was N8 increment.