Senate to assist Ikeja Electric recover N71 billion debt

The Senate Committee on Privatisation and Commercialisation has promised to assist Ikeja Electric recover over N70.96billion customer debt.

The committee, which was on oversight visit to the company, commended the DisCo for improved service delivery and innovative ideas.

The committee’s chairman, Theodore Orji, expressed concern over the outstanding N70.96 billion debt being owed the DisCo by its customers, including ministries, departments and agencies (MDAs).

He noted that, as a business venture, such indebtedness was an impediment to its vision of providing quality electricity supply to its customers.

Orji assured the management of the firm that the legislative arm of government would look into the issue since majority of the debt was owed by MDAs.

The chief executive officer, Ikeja Electric, Mrs. Folake Soetan, expressed appreciation to the lawmakers for the visit to the company, saying the achievements of Ikeja Electric so far was the result of collaboration with the Nigerian Electricity Regulatory Commission (NERC), the Bureau of Public Enterprises (BPE) and other stakeholders.

She said the company would continue to invest in modern technology and equipment to ensure quality power supply to its customers.

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