IBEDC overcomes systemic inefficiencies, records major turnaround — MD

The Managing Director of the Ibadan Electricity Distribution Company (IBEDC), Francis Agoha, has disclosed that the company has successfully navigated inherited systemic inefficiencies to achieve a significant transformation in Nigeria’s power sector

Beyond financial growth, Agoha said the company is enhancing customer engagement through digital innovation. “We launched a Customer Care WhatsApp platform and the i-Recharge platform, making payment and support services more accessible, even in areas with low connectivity,” he noted.

On the issue of metering, Agoha stated that IBEDC is aggressively pushing to bridge the gap. “As of 2024, only 43% of our customers were metered. Our target is to exceed 60% coverage by the end of 2025. This will help curb energy theft and ensure accurate billing,” he said, referencing initiatives like the National Mass Metering Programme.

He also addressed the challenge of energy theft, revealing that the company recorded over 8,000 cases between January and October 2024. He pledged continued enforcement actions and awareness campaigns to bring down the Aggregate Technical, Commercial, and Collection (ATC&C) loss rate from 32.73% in 2024 to below 25% by the end of 2025.

Expressing optimism about the future, Agoha concluded: “Our achievements demonstrate that with the right focus, we can achieve operational excellence. IBEDC is committed to becoming one of the most resilient and customer-centric utility companies on the continent.”