The Chief Operating Officer , Ibadan Electricity Distribution Company , Engr. John Ayodele has said that the recent increase in electricity tariff is a product of necessity to help distribution companies recoup outstanding debts to keep the sector afloat.
Justifying the increase, the IBEDC COO said it became imperative in view of government decision not to take responsibility for the shortfall, adding the new hike is a government decision to be followed and implemented by the electricity companies. “In fact, this year’s own is almost N27 billion, for this year alone, so you can imagine by the time we get to December, we are talking about N30 to N35 billion as shortfall.
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