IBEDC secures $400m investment to boost power distribution

The Ibadan Electricity Distribution Company (IBEDC) says it has attracted $400 million investment from Trans Sahara Consortium in a bid to ensure the commencement of its Smart Metering Programme, The Sun reports.

This was made known in Ibadan last week by the Chairman of IBEDC, Dr. Tunde Ayeni, when he signed a Memorandum of Understanding (MoU) with the Trans Sahara Consortium led by Senator Saminu Turaki.

Turaki stated that the investment would at the long run create over 250,000 jobs, though the IBEDC currently has about 3,000 staff. He added that the job creation would be sustainable in line with the initiative of the current administration of President Muhammadu Buhari to create two million jobs.

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