Lagos-based Power Firm IKEDC to Invest N105bn in Power Networks

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Ikeja Electricity Distribution Company plans to invest N105bn in its network in the next five years; figures released by the Nigerian Electricity Regulatory Commission on Wednesday have shown.

In its draft Performance Improvement Plan submitted to the NERC, it was observed that Ikeja Disco also plans to reduce its Average Technical Commercial and Collection losses to 8.8 percent by 2024.

It targets 100 percent metering of all customers by 2022 and the improvement of customer satisfaction to 95 percent by 2024.

“The investment requirements to achieve the performance agreement targets will result in a tariff increase that reflects our actual loss performance,” the Disco said in its draft PIP.

It added, “This increase in tariff will enable us to successfully deliver our performance plan.

“Over the next five years, Ikeja Electric plans to invest N105bn in its network to expand capacity in line with our demand growth, replace assets and deploy state-of-the-art technology to improve the efficiency of our operations.”

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