We Lost Over N130m To Illicit Meters In Osun — IBEDC

The Ibadan Electricity Distribution Company (IBEDC) has said it is losing an average of N130 million in revenue in Osun state due to the use of illicit meters by some residents.

It added that about 15,000 illicit meters existed in its network across the state which resulted in the gross revenue lost. According to IBEDC regional Head for Osun, Engr. Oluwatoyin Akinyosoye at a town hall meeting while addressing stakeholders in Osogbo on Wednesday, said the company had stopped the installation of the illicit meters, which use card to load electricity, since 2013.

He said:
“In Osun region, conservatively, we have about 15,000 of these illicit meters in our network and the average revenue loss every month due to this is over N130 million.

“These meters consume energy and the revenue is not coming to us. That is a huge loss. If we can curb these illicit meters, we know that we can plunge back the revenue to our purse to serve our customers better. “These illicit meters were gotten through the backdoor, unknown to us till now. Most of these meters are the ones that you have to use a card for before you can load.