US government-led initiative, Power Africa, has partnered with the Ibadan Distribution Company (IBED) to improve access to electricity in Oyo, Nigeria.
A Memorandum of Understanding, between Llyr Rowlands, Chief of Party for the Power Africa Transactions and Reforms Program and John Donnachie, Managing Director of IBEDC, was signed during a ceremony held at the Olusegun Obasanjo Presidential Library in Abeokuta.
The announcement was confirmed by the US Embassy on Friday in Abuja, Roseann Casey, the Power Africa representative for the US Agency for International Development (USAID)/Nigeria.
Boosting revenue and improving energy access
Casey noted that the partnership would include technical and managerial support to the IBEDC, in its efforts to reduce energy losses and increase revenue.
Casey commented: “Power Africa initiated similar support to three distribution companies (DISCOs) in Abuja (AEDC), Benin (BEDC), and Lagos (EKEDC) in 2016, with substantial success to date. Read more…
“Power Africa’s support to the four distribution companies represents a 12 million dollars investment in the self-reliance and resilience of Nigeria’s energy sector and demonstrates USAID’s position as the world’s premier international development agency.”
She added: “Aggregate energy losses have been reduced at each DISCO, and revenue collection increased by 27 billion Naira ($83 million) in 2017.
“Higher-performing DISCOs contribute to a more robust energy sector in Nigeria by ensuring that power generators are compensated for electricity supply.
“And, that generated power is not “lost” or “stranded” by lack of distribution and transmission capacity, and by attracting private investment in new electricity infrastructure.”
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