REVEALED! IBEDC Cries Out Over Oyo State Government N450 Million Debt

The Ibadan Electricity Distribution Company plc (IBEDC) has raised alarm over a N450 million debt owed by the Oyo state government

The company made this known in a statement issued by the Chief Operating Officer, John Ayodele, on Wednesday.

Ayodele, in the statement explained that the company, as part of efforts to get the outstanding paid, initiated several engagements through correspondences and physical meetings, but all these efforts yielded no positive result.

He added that after disconnecting power supply to the state Secretariat, the Oyo government, in a retaliatory move decided to seal its offices across the state.

The Management of Ibadan Electricity Distribution Company (IBEDC) Plc hereby informs its esteemed customers of the retaliatory and illegal action of the Oyo State Government over the issue of its huge indebtedness.

REVEALED! IBEDC Cries Out Over Oyo State Government N450 Million Debt

Below is full details of the statement;

“The management of IBEDC hereby informs its esteemed customers of the retaliatory and illegal action of the Oyo State Government over the issue of its huge indebtedness.

“The Oyo State Government on Wednesday 9 February 2022 commenced the sealing of our offices within the state over some suddenly contrived debts labelled revenue bills and personal income without due notification.

“This issue of revenue bills and personal income arising now is quite suspicious. Oyo State Government is owing IBEDC a whooping consumption outstanding of N450 million for over a period of three years.

“No business in this country can run successfully with such a huge outstanding, the power we distribute to customers must be accounted for and paid for, we have no choice but to disconnect the Oyo State Secretariat, so it is worrisome to see that the government has sealed off our offices with this underhand and arm twisting tactics, instead of paying the debt owed.

“This was not done in good faith and it would have a damaging effect on the business and service delivery to our customers.”

Engr. Ayodele further explained. The COO appealed to the State Governor, his Excellency Engr. Seyi Makinde to look into the matter in the interest of all concerned as this would further exacerbate the power challenges and pressure on residents and commercial activities within the state.

IBEDC engages in essential services to the public and the effect of this arm twisting tactics can at best be imagined if not quickly arrested.