Ikeja Electric, Magodo Residents Sign Power Infrastructure, Supply Agreement
Nigeria’s leading Electricity Distribution Company, Ikeja Electric (IE) has signed an agreement with Magodo Resident Association to invest in electricity infrastructure in the Estate as well as provide reliable and quality electricity supply to the residents.
The contract, which is in line with the company’s Premium Power Purchase Agreement, was signed at the association’s community hall in Lagos with representatives of Ikeja Electric and Magodo Resident Association present.
The Chief Operating Officer of Ikeja Electric, Mrs. Folake Soetan, expressed confidence in the success of the trend-setting agreement which she noted was in line with the Federal Government’s “willing seller, willing buyer” policy.
“We are confident that this agreement will serve as a model for other power agreements in the power sector because, while it is in line with the Federal Government policy, it also reflects our unwavering commitment to our customers. This has also been made possible by the Nigerian Electricity Regulatory Commission’s directive to DisCos to provide an enabling environment with exceptional service delivery,” she said.
The Chairman, Board of Trustees, Magodo Residents Association, Chief S.A. Owojori, commended the technical teams from both sides for a job well done. He described the signing ceremony as a significant achievement in the community’s efforts at enjoying uninterrupted power supply, noting that the agreement, if judiciously implemented, will strengthen the relationship between the community and Ikeja Electric.
Others present at the ceremony from Ikeja Electric include Chief Technical Coordinator, Engr. Sunday Oyewole, Chief Network Optimization, Engr. Abdullahi Mohammed, Head Legal & Regulatory, Mr. Babatunde Osadare, Business Manager, Shomolu Business Unit, Engr. Olanrewaju Yusuf and the Project Manager, Wale Atobatele. Members of the Magodo Resident Association present were Mr. Jade Niboro, Chairman, Magodo Resident Association, Akin Adepoju, General Secretary and Mr. Kunle Fashogbon amongst others.
The Premium Power initiative is a power purchase agreement which entails a commitment to specific service level standards while the customer agrees to pay a tariff that is above the current MYTO tariff.
L-r, Chairman, Magodo Residents Association, Mr Jade Niboro; Chairman, Magodo Residents Board of Trustees, Chief Stephen Owojori; Chief Operating Officer (COO) Mrs Folake Soetan and Head, Legal and Regulatory, Mr. Babatunde Osadare both of Ikeja Electric, during the signing of the Premium Power agreement at the Magodo Town Hall, Lagos recently.
