Ibadan DisCo loses over N1bn to energy theft monthly – Official

It is worrisome that the power sector situation is not getting better. This is made worse by the unpatriotic attitude of some consumers, who would not want to pay for what they consume, the Team Lead Revenue Protection, Ibadan Electricity Distribution Company (IBEDC) Plc, Jude Ugwuoke, has said.

Ugwuoke said the electricity distribution companies (DisCos) are running into huge losses, noting that the Ibadan distribution company alone loses over N1 billion to energy theft monthly. He said there’s no business person that would invest and lose such amount of money and be able to grow. It’s not likely, he said.

He said the effect of energy theft was seriously telling on the Discos hence the power shutdowns, which often occur in most parts of the country. He appealed to Nigerians to desist from this kind of practice to enable the DisCos deliver on their promises.

Source: The Nation

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