BEDC Spends N11bn to Purchase Energy from NBET Monthly, Says MD
The Managing Director/Chief Executive Officer, Benin Electricity Distribution Company (BEDC), Deolu Ijose, has revealed that the company needs the cooperation of electricity consumers in its franchise states to meet their demands as it gets the invoice of about N11billion monthly.
He disclosed this while commemorating his assumption of office at the headquarters of the company in Benin City.
Ijose said the company is keen on giving its best to its franchise states of Edo, Delta, Ekiti and Ondo respectively but its effectiveness is being hindered by acute funds due to energy theft.
“The bottom line is that we need funding to be able to put infrastructure in place. You will say that is our responsibility to put all these things in place but at the same time, we must collaborate with the citizens and plead with them also because BEDC is not a social service anymore.
“On a monthly basis, BEDC must go out to buy energy from an institution we call Nigeria Bulk Electricity Limited (NBET). That is where we buy energy and I get N11 billion invoice every month. We practically collect may be 50 or 60 percent of that.
“You buy a truck of cement from Dangote forN10,000 and after selling you get back only N5,000. So, it is either you are going to pack up and go or you are going to get bankrupt, that is why funding is important,” he said.
and is now for the customers to assist by settling their bills as at when due.
“If we settle the debt, we will be able to pay for the energy that is purchased on monthly basis and get more but when we do not get 50 or 60 percent of what we deployed, honestly as an investor, I would not know how the business can continue.
“So, the citizens too can really assist the sector”, Ijose added.
The BEDC MD, while responding to the question of whether there is plan of partnering the Edo State Government by way of connecting to the Ossiomo project, said talks were already on the way adding that the more the merrier.
“There is nothing bad in partnering the state government.
“The more, the merrier. What we normally do, we don’t have the distribution license because it belongs to the Disco.
“However, Disco can partner anybody towards a better service and that is where the state government, Ossiomo project which is a baby of the state government falls in.
“We are trying in negotiating with them towards partnering”, Ijose disclosed.
He further assured that the company is collaborating with key stakeholders in the industry the TCN, NDPHC, NEMSA, REA, NBET/MO, federal and state governments, Meter Manufacturers to better improve on their service delivery.
He said customers will soon witness the massive transformation of their services, including the deployment of meters across their franchise states areas.
