Nigeria’s Assets Management Corporation is considering the sale of Ibadan Electricity Distribution Company (IBEDC) to viable investors to make the company more efficient and responsive to the needs of Nigerians.
Gbenga Alade, the Managing Director of Assets Management Corporation of Nigeria, expressed the belief that looking for viable investors to take over IBEDC is the right way to go.
To him, since assumption of office five months ago, his outfit has tried to resolve the issues affecting the IBEDC, but the process has yet to be concluded.
Alade believes that no economy can grow and move forward without a stable power supply.
“In the power sector, we have Ibadan DisCo, which is under AMCON. We’ve tried as much as possible to get that resolved. And we’re in the process.
“We are yet to conclude the sale, but we are making very good headway in resolving Ibadan DisCo,” Alade said during an interaction with media executives in Lagos as quoted by The Punch.
Alade expressed optimism that the IBEDC would be profitable if sold, saying it covers different states, including Ogun industrial areas.
”I believe that Ibadan Disco is the largest disco that we have because it goes across so many states like Ogun, including all the industrial areas of Ogun State.
“We believe that it can be made more efficient if sold to people with deep pockets who can invest, not people who just buy and not invest. They don’t have money to invest.
“With people who have deep pockets to invest in making that company more efficient and more effective, it will go a long way to helping the power sector,” he noted.
Source: https://energynewsafrica.com