The Managing Director and Chief Executive Officer of the Abuja Electricity Distribution Company (AEDC), Engr. Ernest Mupwaya has said the company requires $150 million (about N54.15bn) to effectively provide meters for its customers in the Federal Capital Territory (FCT) and the other North Central states under its franchise.
Engr. Mupwaya stated this yesterday when he received members of the House of Representatives Committee on Privatisation and Commercialisation which was on an oversight visit at the AEDC headquarters in Abuja.
He said AEDC had metered about 150,000 customers so far and that it intended to roll out 500,000 meters at an average of 120,000 annual meter installation.
In his remarks, the committee’s Vice Chairman, Rep. Shadimu Mutiu, said the essence of the oversight was to ensure compliance of sales and execution of privatised companies and also ensure that AEDC gave customers good service.
He said, “A report before us shows that about 37 different enterprises that were privatised by the Federal Government are heading towards failure. Therefore, we want to ensure that your operations are effective to the satisfaction of Nigerians.”