Ikeja Electric signs N570m MoU with Mojec for supply of meters

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By Steve Agbota

In order for customers to get a more transparent and accurate bill, Ikeja Electric Plc has signed a N570 million Memorandum of Understanding with a local meter manufacturing company, Mojec International Limited for the supply of Distribution Transformer (DT) Meters.

At the signing ceremony, acting Chief Executive of Ikeja Electric Plc, Mr. Anthony Youdeowei, who was represented by Chief Finance Officer, Mrs. Olubunmi Olukoju, said that it was necessary that the organization continue to invest and commit resources to improve its capacity to meter, correctly and fairly, the consumption patterns of many customers.

He added: “we are proud to partner with Mojec International Ltd, a local content manufacturer that has proved its worth as far as this sector is concerned. We are a proudly Nigerian company, which remains committed to the Nigerian vision. By partnering with us on this, we will achieve total metering of our feeders and distribution transformers and proceed further into other areas of mutual interest.”

According to him, energy accountability has been a major bane of the country’s energy sector, saying that the N570 million is a further demonstration of Ikeja Electric’s long time commitment to invest the required sums to ensure there is a turnaround in the experience of its customers altogether.

He added: “We recently committed N150 million to total upgrade of our Ogudu Injection Substation, which improved overall power supply in that axis.

Our resolve to meter every customers is unwavering,and  we will continue to invest huge sums not only to deliberately strengthen the work, but to also sustain our meter roll out plan.

“Our current strategy of metering commercial points is crucial as it allows us accurately determine the amount of energy consumed on a feeder by feeder basis and after careful consideration, using our Estimated Billing Methodology, customers get a more transparent, fair and accurate bill.”

Meanwhile, Managing director, Mojec International Limited, Ms. Chantelle Abdul said that the company had produced and supplied about 1,200 distribution transformer meters to the company out of 2,055 required.

According to her, metering of consumers and transformers were capital intensive which requires adequate financing, saying that Distribution Companies (DISCOs) alone could not do it without the assistance of the Federal Government, Central Bank of Nigeria and other financial institutions.

She said the company has supplied 50 per cent and pledged that Mojec International to fulfill its part of the agreement being the first time it partnering with DISCOs on mass meter production.

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