Ikeja Electric Sign Power Purchase Agreement With Magodo Residents In Lagos  

Yemisi Izuora 

 The Ikeja Electric (IE) has signed an agreement with Magodo Resident Association to invest in electricity infrastructure in the Estate as well as provide reliable and quality electricity supply to the residents.

The contract, which is in line with the company’s Premium Power Purchase Agreement, was signed at the association’s community hall in Lagos with representatives of Ikeja Electric and Magodo Resident Association present.  

By this agreement, IE will provide Magodo residents with electricity supply beyond the existing standards with guaranteed performance levels. In addition to the improved supply of electricity to the Estate, there will also be access to dedicated Customer Care and Technical teams for prompt resolution of queries and/or technical issues within the Estate.

The Chief Operating Officer of Ikeja Electric, Mrs. Folake Soetan, expressed confidence in the success of the trend-setting agreement which she noted was in line with 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.

Soetan who signed on behalf of IE, described the agreement as a foremost partnership that would enhance growth and economic development within the community. She further emphasized on the importance of the agreement to both parties, while reiterating Ikeja Electric’s commitment to ensure adherence. 

The Chairman, Board of Trustees, Magodo Residents Association, Chief S.A. Owojori, commended the technical teams from both sides for a job well done. 

He described the signing ceremony as a significant achievement in the community’s efforts at enjoying uninterrupted power supply, noting that the agreement, if judiciously implemented, will strengthen the relationship between the community and Ikeja Electric. 

The Premium Power initiative is a power purchase agreement which entails a commitment to specific service level standards while the customer agrees to pay a tariff that is above the current MYTO tariff.

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