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Electricity firms urged to borrow to improve service: Business : - Nigeria's Premier Online Forum


Electricity firms urged to borrow to improve service

By: dayan (M) |Time : September 15, 2016, 08:18:28 AM

— 15th September 2016

By Isaac Anumihe

Following the low performance rating of electricity distribution firms in the country, the Acting Director General of the Bureau of Public Enterprises (BPE), Dr.  Vincent Onome Akpotaire, has advised the owners of the successor companies of the defunct Power Holding Company of Nigeria (PHCN) to borrow from both local and international funding sources to improve their operations.

The BPE Acting Director General who gave the advice during the flag-off of the agency’s periodic post-privatisation monitoring exercise at the Ibadan Electricity Distribution Company (IBEDC) in Ibadan, reminded Distribution Companies (Discos) in the country that they won the bid of their respective companies based on the Aggregate Technical Commercial and Collection (ATC&C) they submitted.
According to him, they could only achieve that if they consciously expand and improve their network operation because if the network is not improved and metering not aggressively pursued they cannot reduce technical and collection losses.

Akpotaire noted the impressive investments and progress the IBEDC has made especially with the embedded generation project in collaboration with British America Tobacco (BAT) and admonished that it is still not enough because any investment it  makes  is in perpetuity. “You need to find answers to the liquidity challenge,” he said.

He informed owners of the IBEDC that the Vice President and Chairman  of National Council  on Privatisation (NCP), Prof. Yemi Osinbajo, and  the  Minister of Power, Works and Housing, Mr. Babatunde Fashola, were  working assiduously  to ensure that the Ministries, Departments and Agencies (MDAs) debts  were  paid as soon as possible and enjoined the power owners to work to improve power efficiency in view of the effort the government  was  making to get  electric power to  the people and to get them pay for it. He said the general impression was that the Discos were not performing.

The BPE Acting Director General commended the company for its effort at upgrading facilities and urged the management to make conscious effort to meet, if not exceed, the agreed Key Performance Indicators (KPIs). He tasked them on the need to have a team of professional staff to drive the new technology they had deployed in information technology and other areas.

The BPE monitoring team was received by the IBEDC Managing Director, Mr. John Donnachie, who briefed the team on the company’s operations, progress, challenges and prospects. He later took the team to the company’s various facilities and the embedded plant at Nampak Properties, which is being built for the company’s captive market for industrial clusters at Oba Otudeko Avenue in Ibadan.

Sun News Nigeria

Re: Electricity firms urged to borrow to improve service

By: dayan (M) |Time : September 15, 2016, 08:22:02 AM
One would think that this is a no-brainer; normal business people borrow to improve their business. But in Nigeria, they borrow to go on vacations overseas,  buy expensive cars for themselves and their women, send their kids overseas to study, and build mansions that never generate any income!
It is called ostentation... and he is a Nigerian.
Mehn!  ;D ;D

Re: Electricity firms urged to borrow to improve service

By: alagbe003 (M) |Time : September 15, 2016, 08:27:49 AM
When the service rendered by the Electricity generation and distribution companies in Nigeria improves. We as the consumers of electricity will be willing to pay for the electricity we are using. it is easier to pay for the electricity that one consumes. Development will also be evident in the country.

Re: Electricity firms urged to borrow to improve service

By: goldpeace (M) |Time : September 15, 2016, 10:51:14 AM
It's disheartening to see the worse situation of electricity and its tarrif. Are they not suppose to think of a better way to serve the consumer. They need to know that anything done in business without a consumer enjoyable outcome is still not worth doing as far as consumers are concerned. So you may argue you have been doing this and that while the situation worsened for consumer, its simply means you are not good enough.

Re: Electricity firms urged to borrow to improve service

By: Gideon |Time : September 15, 2016, 11:47:36 PM
I hope if they intend to borrow, they do not pass the burden of paying back the debt to the consumer because that will be wickedness on their part

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