The Nigerian Electricity Regulatory Commission (NERC) announced it has approved the sum of N121.92 billion for Ikeja Electric Plc infrastructure upgrade for the next 5 years and also N93.76 billion for Eko Electricity Distribution Company (EKEDC) infrastructure upgrades within the same period.
This was disclosed in its Performance Improvement Plan (PIP) and Extraordinary Tariff Review Application which was released on Monday and signed by NERC’s Chairman, Mr. Sanusi Garba, and Mr. Dafe Akpeneye, Commissioner, Legal, Licensing and Compliance.
NERC said the approved upgrades would improve the distribution of power supply by the DisCos. PIP and Capital Expenditure (CAPEX) program is expected to take effect from July 1, 2021 to June 30, 2026.
The NERC said the approved upgrades would improve the distribution of power supply by the DisCos citing public hearing scrutiny in its PIP and Extraordinary tariff review applications in a bid to ensure accountability.
The approved CAPEX for Ikeja Electric Plc would be N24.38 billion annually from 2021 to 2026, while for Eko Electricity, it would be N18.75 billion for the same period, totaling N93.76 billion.
The upgrades would be in the areas of existing network capacity, technological enhancements to reduce outages, and the acquisition of tools to improve network performance.
For the Abuja Electricity Distribution Company, AEDC, the company proposed to undertake numerous interventions to improve service delivery to customers. Over the next five years, the proposed interventions will allow AEDC to achieve substantial improvement in service delivery and increase the number of new customers from the current level of 1,214,259 to 3,450,695.
