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Illicit Meters Cause Monthly Loss of Over N130 Million Revenue for IBEDC




The Ibadan Electricity Distribution Company (IBEDC) has expressed its disappointment at the monthly loss of over N130 million in revenue caused by the use of “illicit meters” by some electricity consumers.

Mr Oluwatoyin Akinyosoye, the IBEDC Regional Manager for Osun, condemned the practice at a stakeholders’ townhall meeting in Osogbo on Wednesday.

Akinyosoye revealed that there are approximately 15,000 illicit meters in Osun, which are causing the company to lose an average of N130 million in revenue on a monthly basis, News About Nigeria reports.

He stressed that this is a significant loss to the company because these illicit meters consume energy on the company’s network, but the revenue is not coming to IBEDC.

The regional manager stated that the use of these illicit meters is sabotaging the company’s operations and causing significant financial harm. He called on the consuming public to be aware of those who engage in this practice and work with the company to curb it.

Akinyosoye explained that the unregistered meters were not supplied to consumers by IBEDC. The company has different interventions on metering through which customers can obtain their meters.

Customers can get metered through “meter self-provider,” whereby customers pay and get metered, and the cost of the meter would be refunded to them over a period of time.

Prospective customers could also benefit from the IBEDC roll-out meter intervention, whereby meters are given to customers for free.

The recently concluded national mass metering program by the Federal Government was also identified as another avenue for customers to obtain meters.

Akinyosoye emphasized that if the use of illicit meters is curbed, IBEDC could take the revenue back to the company, improve its network, and embark on other metering interventions to serve its customers better.