{"id":43827,"date":"2020-10-14T10:33:31","date_gmt":"2020-10-14T09:33:31","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=43827"},"modified":"2020-10-14T10:33:31","modified_gmt":"2020-10-14T09:33:31","slug":"ikeja-electric-seals-n11-4b-metering-contract","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ikeja-electric-seals-n11-4b-metering-contract\/","title":{"rendered":"Ikeja Electric Seals N11.4b Metering Contract"},"content":{"rendered":"

As part of measures to accelerate metering of customers, Ikeja Electricity Distribution Company has signed N11.4billion contract.<\/p>\n

Speaking with Journalists on Tuesday, Chairman of the company, Mr Kola Adesina, said:: \u201cWe have signed service contracts with all our customers and we will ensure that we provide supply to them.<\/p>\n

\u201cWe are investing massively in network expansion and also giving out additional contracts for those who will do meters for us.<\/p>\n

\u201cWe signed N11.4 billion contract for the purpose of metering our customers.\u201d<\/p>\n

He explained that Ikeja Electricity had invested\u00a0$44\u00a0million in advanced metering infrastructure to increase technology and innovation into its business operations.<\/p>\n

On the performance of the power sector since the privatisation process in 2013, Adesina maintained that significant progress had been made, adding that there was a lot of ground yet to be covered.<\/p>\n

He said : \u201cThe kind of improvement we have made is not one we are happy about. It is not what we want to celebrate, but we have made significant improvement.<\/p>\n

\u201cWe were doing about 3, 000MW in 2013 but today we are doing about 5, 700MW averagely.<\/p>\n

\u201d A lot of generating and distribution aspects were way behind, but now we are moving forward but we are not moving as fast as we should.<\/p>\n

\u201cWe should actually leapfrog achievements than these incremental achievements we are making.<\/p>\n

\u201cThe reason why that is so is because the economic analysis of electricity is not done using economic principles that it requires.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThe people living in Ogudu, Magodo, Ikeja and other areas where we have bilateral power supply agreements will\u00a0 tell you that things have improved with the quality of supply they are getting.\u201d<\/p>\n

Adesina noted that the Nigerian Electricity Supply Industry was heading towards corrective pricing which would provide incentive for investments.<\/p>\n

\u201cAs we speak today, we made our own investment based on patriotism, based on nationalism, based on the fact that we are Nigerians, based on the fact that we believe that we had the capacity to bringing energy to life in Africa.<\/p>\n

\u201cThe commercial principle of the sector needs to change and government has realised that the resources available to the state cannot meet all its expenses.<\/p>\n

\u201cSome of these commodities need to be economically priced. Pricing electricity economically is a commonsensical thing that any administration will naturally want to support.<\/p>\n

\u201cNigeria is doing about 5, 700MW. That is very shameful if you ask me,\u00a0for almost 200 million people.<\/p>\n

\u201cLike I said at a forum yesterday, Nigeria should be doing about 50, 000MW of electricity every day, \u201d he said.<\/p>\n

According to him, the media and stakeholders need to portray the right narrative regarding how the sector can be revamped.<\/p>\n

\u201cWe on our part should ensure that the framework to deliver that power is available and ultimately for the consumer to pay the right price. \u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

As part of measures to accelerate metering of customers, Ikeja Electricity Distribution Company has signed N11.4billion contract.<\/p>\n","protected":false},"author":6,"featured_media":43829,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[7052,7565],"coauthors":[2391],"class_list":["post-43827","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-ikeja-electricity-distribution-company-ie","tag-metering"],"yoast_head":"\nIkeja Electric Seals N11.4b Metering Contract - National Wire<\/title>\n<meta name=\"description\" content=\"As part of measures to accelerate metering of customers, Ikeja Electricity Distribution Company has signed N11.4billion contract.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/ikeja-electric-seals-n11-4b-metering-contract\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ikeja Electric Seals N11.4b Metering Contract - 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