Managing Director of Ibadan Electricity Distribution Company, John Donnachie, has said that the company needs N30bn to supply meters to all customers within its territory.
MD said this during the official opening of the company’s customer care office at its headquarters in Ibadan.
He however said that the huge amount needed was not available because of the challenges facing the company, adding that it had only been able to commit around N2bn to the project.
Donnachie said, We have a definite plan to supply meters to customers within our territory. The plan is for the customers to buy but we have to pay them back within a two-year period. We have put N2.4bn into the programme because we have to pay customers back.
We need N30bn to meter our territory and that is not going to happen overnight. Even if we have the money, we don’t have the foreign exchange. So it will take some time to do.
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