By Etuka Sunday
Abuja Electricity Distribution Company (AEDC) has recorded great improvement in its monthly revenue collection from N6 billion recorded in 2019 to over N9bn in late 2020 despite the COVID-19 pandemic.
Engr. Emmanuel Katepa, a shareholder in AEDC and CEO of KANN Utility Ltd, the investment firm of the Distribution Company (DisCo), yesterday in Abuja, commended the AEDC management team for the strategic improvement in the operations.
“In the last six months, AEDC had tried to stabilize with the COVID-19 issue. I will very much commend the team at AEDC because through this difficult time, they have managed to increase monthly collections from the average of N6 billion per month in 2019 to consistently about N9bn, even up to N10bn a month in the beginning of this year.”
He said although there was a revenue collection improvement, the shareholders are working to put in more investments that will improve the operations.
“We have certainly seen lots of improvement in that area, and I think a lot of areas where the investment environment is needed is still challenging. So as we report this increase in revenue, we are probably still not able to put in the sort of investment that will enable that we as shareholders ought to put in the company. But we will see an improvement in that environment as well”, he said.
AEDC is one of the 11 DisCos in Nigeria; its franchise area covers Kogi, Abuja, Nasarawa and Niger, supplying electricity to over one million registered customers.