Senate To Assist Ikeja Electric Recover N70.96 Billion Debt

Ikeja Electric Corporate Headquarters. Photo credit: Google

IKEJA Electric is set to recover N70.96 billion debt owed by Ministries, Departments, and Agency through the intervention of the Senate.

The Senate Committee on Privatisation and Commercialisation made this promise to assist Ikeja Electric to recover over N70.96billion customer debt during its oversight visit to the company led by the Chairman, Senator Theodore Orji.

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

They commended the DisCo for improved service delivery and innovative ideas.

Senator Orji noted that, as a business venture, such indebtedness was an impediment to its vision of providing quality electricity supply to its customers, he expressed concern over the outstanding N70.96 billion debt being owed the DisCo by its customers, including ministries, departments, and agencies (MDAs).

Expressing her appreciation to the Senate Committee, Chief Executive Officer, Ikeja Electric, Mrs. Folake Soetan, thanked the lawmakers for the visit to the company, noting that 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.