KEDCO hits N2bn revenue target in November – MD

From Mustapha Adamu, Kano

The Managing Director of Kano Electricity Distribution Company (KEDCO), Dr Jamil Isyaku Gwamna, has revealed that the company has achieved its N2 billion revenue target in November.
Speaking during the company’s second annual conference, tagged, Empower Conference 2017, held in Porto Golf, Minjibir Local Government area, Kano State, Gwamna said, it was only in the last month that the firm was able to reach its target.
According to Gwamna, the highest revenue KEDCO collected before November was in the month of May, when it generated N1. 8 billion, adding that the company could only collect below N1.5 billion monthly.
Gwamna, who doubles as the KEDCO’s Chief Executive Officer, also said that the firm had set N3.5 billion target in 2018, adding that the feat was achieved as a result of the performance of the staff.
He further stated that, 4 years ago, when KEDCO was taking off, they could only generate not more than N600 million monthly, adding when they set up moderlities, the company now generates revenues running in billions.
“I am happy to announce that this company has hit its N2 billion revenue in November. But we still have N1. 5 billion away because our target for next year is N3. 5 billion. So, this feat was achieved, because of your performance.
“I want you to keep this performance up so that you get customers pay their bills in order for you to get your salaries.
“This government is very serious about power sector. There are some plans underway to revive the sector. There is a power sector reform programme by the World Bank. This programme was meant to reform the sector to be efficient. That is why the programme involved tarrif increase,” he said
The MD/CEO also promised to reward the staff with some incentives for their performance, disclosing that the company has signed a deal for the bonus.
He said the deal was initially signed if the staff reaches N2. 5 billion target, stressing however that “since they have hit N2 billion, we will reward them with some percentage of the initial 100% we pledged to give if they hit N2. 5 billion target. “
He also called on customers to be diligent in paying their electricity bills, noting that the company could only be able to serve the consumers better if they regularly pay their tariffs.

Leave a comment

Your email address will not be published. Required fields are marked *