Ikeja Electric Monday signed a memorandum of understanding (MoU) with Mojec International Ltd, a local content provider for the supply of distribution transformer (DT) meters.
Anthony Youdeowei, chief executive officer of Ikeja Electric, said the partnership with Mojec became necessary because of the need ensure energy accountability in the power sector, where it has become a major headache over the years.
According to him, the fact that power is daily being consumed without a clear and scientific way of measuring how much is being used up, and by whom, has remained an issue of concern and front-burner topic of discussion everywhere, and it is, therefore, necessary Ikeja Electric continues to invest and commit resources to improve its capacity to meter correctly and fairly, the consumption patterns of as many customers as it could.
“This N570 million MoU is a further demonstration of our long-term commitment to investing huge sums to ensure there is a turnaround in the experience of our customers’ altogether,” he said, adding “You will recall that we recently spent N150 million to totally upgrade our Ogudu injection substation, which improved overall power supply in that axis.
“As you can imagine, Ikeja Electric remains committed to investing huge sums to strengthen the network and sustain our meter rollout plan,” he noted.
Expressing confidence in the ability of Mojec to deliver the right metering transformer, he said “We are also proud to partner with Mojec International Ltd, a local content manufacturer that has proved their worth as far as this sector is concerned. We are a proudly Nigerian company which remains committed to the Nigerian Vision. We are sure that Mojec will deliver on the terms of this MoU in a way that will make us all proud.
“By partnering with us on this, we intend to achieve total metering of our Distribution Transformers and proceed into other areas of mutual interest. This will ensure we get better data that ensures our customers are fairly billed, in a very transparent manner. We commenced this a while ago and this MoU will ensure that the few locations left are concluded on,” he affirmed.
Mojec Group of Companies is an international holdings company headquartered in Lagos with operations in power, oil and gas, real estate as well as agriculture. Its subsidiary, Mojec International or Mojec Meter Company is the largest meter manufacturer in Nigeria.