HomeIndustry SectorsFinance and PolicyIkeja Electric signs the willing seller, willing buyer policy

Ikeja Electric signs the willing seller, willing buyer policy

Nigeria’s electricity distribution company Ikeja Electric has signed a bilateral power purchase agreement with Omole Phase 1 Estate. The agreement is aimed at providing reliable services to customers as provided for by the Willing Seller, Willing Buyer policy.

In his remark after the signing ceremony, head of corporate communications, Felix Ofulue, said the agreement was a win-win for both parties, noting that the Omole Estate stands to benefit more from the agreement, with the supply of quality power at an average of over 20 hours daily.

“The initiative is driven by our commitment to provide our customers with unrivalled exceptional and qualitative services which are tailored towards the company’s core values,” he added.

He further explained that Ikeja Electric has put in place arrangements for routine preventive maintenance to ensure availability of agreed hours per day as well as other incentives that give the customers maximum quality and value for their spend.

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A resident of the Estate, Seun Sonibare, said the deal was “like a dream come true,” describing the deal as a “marriage of convenience” while ecstatically commending the efforts of both parties for working assiduously to achieve the feat.

IE Prestige is an initiative of Ikeja Electric, which is aimed at providing reliable power supply to customers at a cost-reflective rate.

A similar agreement was signed recently with Magodo Residents Association, Shonibare Estate, Ogudu GRA and Ikeja GRA.

Babalwa Bungane
Babalwa Bungane is the content producer for ESI Africa - Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast.