Business
Electricity Firm To Address Outrageous Bills, Extortion Of Consumers
The Omu-Aran Business District of Ibadan Electricity Distribution Company (IBEDC) in Kwara State has promised to address the grievances that led to the recent public protest against the company in the area recently.
The District Business Hub Manager, Mr Biodun Ogun, made the pledge during a meeting with members of Omu-Aran Traditional Council of Chiefs at the Olomu’s Palace at the weekend.
The Tide’s source reports that scores of youths and women in Omu-Aran took to the streets last Thursday to protest outrageous bills and alleged extortion by IBEDC personnel.
The protesters, who carried placards with inscriptions like: “No more extortion”, “Stop crazy electricity bills” and “Repair damaged cables, polles”, stormed the office of IBEDC located inside Omu-Aran City Complex to register their grievances.
Dr Doyin Lawal, the President of Omu-Aran Youth Forum (OYF), who led the protesters, said the youths had no option than to register their grievances through the protest.
Ogun, who acknowledged that there might be genuine cases of crazy bills, however, faulted the manner the protesters adopted.
According to him, the youths should have used the official channels provided by the company.
“We just did a comprehensive data capturing of our consumers to ensure cordial relationship and effective service delivery.
“We are ready to entertain genuine complaints from consumers over crazy bills and other related issues if channeled through appropriate quarters.
“We believe this is far better than storming our offices and attack our workers to the extent of inflicting injuries on them.
“The district will not deliberately impose high bills on its consumers except in cases of errors which can be traced and promptly addressed,” he said.
Chief Jide Adebayo, the Eesa of Omu-Aran, who responded on behalf of the Olomu-In-Council, said the council was never consulted over the planned protest.
He, however, said the council would not relent until the issues raised by the protesters received amicable settlement between the parties.
Adebayo advised officials of the company to promptly address the noticeable grey areas as promised to forestall unwarranted clashes.
He appealed to the officials to return to their duty posts, while assuring them of the council’s support at all times.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.