The Ibadan Electricity Distribution Company on Thursday stated that it would spend a total of N5bn to audit its assets and enumerate customers on its network, as part of measures to provide better services, The Punch reports.

Following the privatisation of the nation’s electricity and distribution companies in November 2013, the core investors in the firms were expected to carry out asset and customer enumeration. The Managing Director, IBEDC, Mr. John Donnachie, said at a briefing in Ibadan that it had taken the company a long time to get around the project because of the cost.

The IBEDC’s franchise area spans Oyo, Ogun, Osun, Kwara as well as parts of Ekiti, Niger and Kogi states. Donnachie said the pilot exercise would commence in Ibadan-Elebu from June to August, adding that the company had engaged Exernegia-Geotechnics Consortium to carry out the exercise across the franchise areas.