CBN intervention increases upgrade of energy assets – EKEDC

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The management of Eko Distribution Company (EKEDC) said they are spending funds wisely for asset upgrades, especially in infrastructure areas such as 11kv and 33kv power supplies and switchgear, to help DisCo provide adequate and reliable power.

The assurances of commitment were made after the Central Bank of Nigeria (CBN) applauded the distribution company for its efforts in delivering the Federal Government and CBN intervention programs in the power sector.

Praise was given when the CBN team conducted a monitoring and evaluation tour of CBN-funded Capex response facilities for electric utility companies.

The CBN delegation, led by the director of Development Finance, Yusuf Yila, was accompanied by the director of Strategy Management, Clément Buari and the director of Trade and Exchange, Ozoemena Nnaji.

Speaking, Yila said, “we are here to ensure that the disbursed funds are used appropriately and to listen to the challenges that have arisen during the implementation of these projects.”

He pointed out that the National Mass Counting System is important to CBN as the tour also aimed to do due diligence on the execution of phase zero of the system and how the apex bank and Disco can better collaborate to move on to the next one. phase.

EKEDC Spokesperson, Godwin Idemudia explained that the CBN has embarked on several performance improvement projects to reduce the various challenges plaguing the power industry in Nigeria.

Idemudia said the apex bank had funded the purchase, installation, rehabilitation and replacement of some power distribution infrastructure such as 11kv and 33kv power supplies and switchgear, to help Discos supply adequate and reliable power supply.


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