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Magodo residents enjoy 24/7 electricity after signing premium power deal with Ikeja Electric

Magodo residents enjoy 24/7 electricity after signing premium power deal with Ikeja Electric
August 24
20:58 2019
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Residents of Magodo Estate have applauded Ikeja Electric Plc (IE) for providing stable electricity to customers within the Estate following the signing of the Premium Power Agreement.

For nearly two weeks residents of the estate have not experienced a single power outage.

The Premium Power initiative is a power purchase agreement under the Willing Buyer, Willing Seller initiative issued by the Nigerian Electricity Regulatory Commission (NERC).

It entails a commitment to specific service level standards while the customer agrees to pay a tariff that is above the current MYTO tariff.

Speaking on the improved power supply, a resident of the Estate, Innocent Nwankwo, expressed satisfaction at the level of supply they are currently getting from Ikeja Electric.

“We currently enjoy 24 hours supply and we believe this initiative is giving us value. We have a mixed development in Magodo estate. There are those who operate business and there are residential,” he said.

“We all need adequate supply, And we were able to agree on this. In my opinion, if other communities shows interest I think Ikeja Electric can replicate this initiative.”

Another resident, Adewale Anthony, also pointed out that initiatives such as Premium Power will enhance growth and economic development within the community.

“What we really want is now possible – and that is constant power that enables us to use it when we need it. By giving us the opportunity to enter into this agreement, we were able to make a choice of what we want in terms of supply availability,” he said

“Since the signing of the contract, we have been enjoying the supply.”

Since the implementation of the Agreement on August 15, 2019, residents of the Estate have been on 24-hour supply and under the agreement, there will also be access to dedicated Customer Care and Technical teams for prompt resolution of queries or technical issues within the Estate.

At the contract signing ceremony, two weeks ago, the chief operating officer of Ikeja Electric, Folake Soetan, expressed confidence in the success of the trend-setting agreement which she noted was in line with the Federal Government’s “willing seller, willing buyer” policy.

“We are confident that this agreement will serve as a model for other power agreements in the power sector because, while it is in line with the Federal Government policy, it also reflects our unwavering commitment to our customers. This has also been made possible by the Nigerian Electricity Regulatory Commission’s directive to DisCos to provide an enabling environment with exceptional service delivery,” she said.

The Chairman, board of trustees, Magodo Residents Association, S.A. Owojori, also commended the technical teams from both sides for a job well done.

He described the signing ceremony as a significant achievement in the community’s efforts at enjoying uninterrupted power supply, noting that the agreement, if judiciously implemented, will strengthen the relationship between the community and Ikeja Electric.

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Exchange Rates

October 07, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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