The new management of the Ibadan Electricity Distribution Company (IEDC), the

Integrated Energy Distribution Company Plc has assured host states of regular supply of electricity to boost their economy,

The company's Vice Chairman, Olatunde Oyeni noted in Ibadan on Sunday that the Ibadan Electricity Franchise Area (comprising of Oyo, Ogun, Osun, Ondo, and parts of Kwara, Kogi and Niger States which boasts of majority of the manufacturing plants and industries in Nigeria would need more stable power supply to ensure increased economic activities.

Therefore, he said the company would manage the assets of the IEDC prudently so that it can provide "our Host States with much-needed electricity. "This goal of meeting our Host States’ and Communities’ electricity demand in the

short term remains a big challenge that we cannot deny."Nations and States are not developed or built by coincidences or by luck. In order to assist the various governments of the Host States to achieve even development, we must plan for the short, medium, and long terms in our quest to ensure a more stable supply of power," he said.

According to him, in this regard, the company will continue to work hard as a

private sector stakeholder with an important mandate of ensuring security of power supply, to find solutions to this challenge."We must acquire the needed infrastructure to ensure a sustainable power distribution environment. But we must prioritize our investments in power distribution and concentrate on those areas where the investment of capital will yield most benefits to businesses and the good people of our host communities," he added.

To ensure effective and efficiency electricity supply, he said the company had engaged the services of one of the world’s most reputable electricity distribution companies,  the Manila Electric Company (“MERALCO”), from the Republic of the Philippines to provide technical and management services to the IEDC.

He explained that with over 110 years experience, MERALCO was the largest

electricity distribution utility in the Republic of Philippines."The company provides power to 5.2 million customers, and operates in 8 provinces covering 29 cities and 82 municipalities - an area that is home to about 25% of the

Philippine population(23.7 million). Its service area accounts for 50% of the country’s GDP, and it is responsible for 55% of the country’s energy sales," he said.