The Nigerian Electricity Regulatory Commission (NERC) announced it has approved the sum of N121.92 billion for Ikeja Electric Plc infrastructure upgrade for the next 5 years and also N93.76 billion for Eko Electricity Distribution Company (EKEDC) infrastructure upgrades within the same period.
The NERC disclosed this in its Performance Improvement Plan (PIP) and Extraordinary Tariff Review Application which was released on Monday and signed by NERC’s Chairman, Mr Sanusi Garba and Mr Dafe Akpeneye, Commissioner, Legal, Licensing and Compliance.
PIP and Capital Expenditure (CAPEX) programme is expected to take effect from July 1, 2021 to June 30, 2026.
The NERC said the approved upgrades would improve the distribution of power supply by the DisCos citing public hearing scrutiny in its PIP and Extraordinary tariff review applications in a bid to ensure accountability.
The approved CAPEX for Ikeja Electric Plc would be N24.38 billion annually from 2021 to 2026, while for Eko Electricity, it would be N18.75 billion for the same period, totalling N93.76 billion.
The upgrades would be in the areas of existing network capacity, technological enhancements to reduce outages and acquisition of tools to improve network performance.
