Residents of Magodo estate in Lagos State have enjoyed stable electricity for nearly two weeks, after signing a premium power deal with Ikeja Electric plc (IE).
According to The Cable, the Premium power initiative is an agreement issued by the Nigerian Electricity Regulatory Commission (NERC) where customers willingly pay electricity tariff above the current amount.
Innocent Nwankwo, a resident of Magodo said “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 a business and there are residential.”
“We all need adequate supply, and we were able to agree on this.
In my opinion, if other communities show interest I think Ikeja Electric can replicate this initiative,” he added.
During the signing ceremony, the chief operating officer of Ikeja Electric, Folake Soetan, expressed confidence in 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.
