IBEDC secures N4.2bn CBN loan, targets September for project’s delivery

Nigeria’s biggest u
tility firm in terms of catchment area opens up on project’s progress at stakeholder’s meeting with Ibafo/Mowe/Aseese Customers


The Ibadan Electricity Distribution Company (IBEDC) on Tuesday declared that it had secured N4.2 billion loan facility from the Central Bank of Nigeria (CBN) for projects that will surge its supply delivery to customers in Magboro, Makogi, Oke-Afa to Ibafo, Asese, Orimerunmu, Pakuro, Lotto and Mowe axis and environs.

Chief Operating Officer (COO) of the utility company, Engineer John Ayodele, who stated this at a stakeholder meeting with leaders of the community in Ibadan, maintained that the suffering caused by load shedding and insufficient power delivery to the axis would end by September.


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“We acknowledged that there is an issue at that moment and we have secured facility from the CBN, which borrowed us N4.2 billion. Presently two projects are on and we have a September deadline. One at Sagamu, another at Ofada. Even if it is the only one from Ibafo that is ready, we will energise it for you, our customers.

“Mowe axis is so dear to our heart. It is like a green area where most of the houses there are less than 20 years. The good news is that our sufferings will soon end. We will stay together to ensure that we meet up with that September deadline,” he said.

Community leaders who spoke at the event demanded assurances from Ayodele on whether the September deadline would be met or not.

Mr. Kehinde Taiwo, who represented one of the communities said that previous promises made top them by representatives of IBEDC have not been fulfilled. He wondered what the company is doing differently this time to make the people believe the September date the COO has promised them.

His view was corroborated by Mr. A. Asaolu from Ibafo CDC who tasked the company to work hard on metering for its customers.

Meanwhile, Ayodele added that he was confident that the issue of load shedding for the community would be resolved by September “because, we have secured the loan with which we are executing the project.”



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The company, which said that its attention has been drawn to a letter made public from IBEDC Consumer Forum, Ibafo on the rejection of the new load shedding formula implemented from the 15 th of March 2021, maintained that its management “therefore wishes to make these clarifications on the issue.

“The supply to Ibafo originates from a 33kV feeder which radiates supply from Oke-Aro Transmission Station through Magboro, Makogi, Oke-Afa to Ibafo, Asese, Orimerunmu, Pakuro, Lotto and Mowe axis and environs. The current load demand for the axis for an equitable power supply is 35 Megawatts, but the allocated energy from Oke-Aro TCN is 13 Megawatts, which was the initial arrangement based on how sparsely populated the communities were few years ago. The increase in population has created attendant rise in energy consumption making the 13 Megawatts grossly inadequate.

“As part of efforts to ensure an even distribution of power supply to the communities, IBEDC management had met and written to the Transmission Company of Nigeria (TCN) requesting for increase in load allocation to the axis, the TCN management however explained that all the transformers at the station are already overloaded, but that plans are in place for the upgrade of the substation. IBEDC then went further to request for diversion of excess load on another feeder to Ibafo 33kV feeder, the request is yet to be granted.”

Furthermore, IBEDC, Ayodele said, has commenced radiating another feeder from the recently commissioned Kobape Transmission station in Abeokuta to Mowe/Ibafo to relieve the load demand of the area and that is expected to take effect later on in the year.”


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“The feeder is overloaded, it trips frequently. Frequent tripping of feeders shortens the life of circuit Breakers, and this necessitated the need for load shedding methodology that will promote amicable and mutual benefits to our substation equipment and all the communities concerned.

“The decision to review the three shifts load shedding management to four, for fair and quality power supply was duly discussed with the community leaders, and agreed upon by the leaders before its commencement on the 15 th of March, 2021.

“IBEDC as a customer centric company that has the interest of her customers at heart apologises for all the inconveniences this new load shedding arrangement might have caused our esteemed customers in Magboro, Ibafo, Mowe and environs . The arrangement is only temporary as IBEDC and the Transmission Company of Nigeria are working assiduously to proffer a lasting solution to power supply problem in the area.”

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