EKEDC loses N4 billion in six months and records 18 asset attacks. - TrendyNewsReporters EKEDC loses N4 billion in six months and records 18 asset attacks. - TrendyNewsReporters
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EKEDC loses N4 billion in six months and records 18 asset attacks.

by Ebor Cletus Ralph Jr

The Eko Electricity Distribution Company (EKEDC) lost more than N4 billion to vandals in a period of six months. The business claimed that 18 incidences of vandalism had been caused by their infrastructure.

The money was stolen between January and June, and the majority of the attacks on EKEDC’s electrical installations and assets occurred in Lagos Island, Mushin, Yaba, Surulere, Ijora, and Apapa, according to EKEDC.

At a news conference on Wednesday, the company’s managing director, Tinuade Sanda, revealed this and discussed some of the difficulties the business is currently facing.

According to Sanda, N3 billion was lost to vandalism, while N1 billion was lost as a result of the outage the vandals created.

“These cases of vandalism have contributed in no small measure to the prolonged outages in our network, leading to disruptions of many businesses, maiming/injury, and loss of lives, particularly of innocent and unsuspecting members of the public.

“We have witnessed 18 incidents, and from our estimate, we have lost about N3 billion to the underground armoured cables that are being stolen and resold in the black market.

“In terms of revenue losses due to prolonged outages, we also estimate an additional loss of N1 billion, which means we have lost about N4 billion to these activities of vandals.” Sanda said.

 

prelliotaglobalconcept

TV Presenter/ Content Writer

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