Barely two weeks after youths in Niger State asked the Abuja Electricity Distribution Company (AEDC) to “pack and go” from the state over alleged non-performance, the AEDC has said that it has not been making profit since it started operation in its franchise areas five years ago.
The AEDC, which is charged with the responsibility of supplying electricity to Niger, Kogi, Kwara States and the Federal Capital Territory (FCT), blamed the situation on the obsolete equipment it inherited from the defunct Power Holding Company of Nigeria when the organisation was privatised.
The General Manager, Corporate Communications, Mr Israel Fadipe, who disclosed this while speaking at the launch of a new Energy magazine, “Power Update Magazine”, which debuted in Minna on Saturday, said some of the equipment inherited by the AEDC “are as old as 115 years”. Read more