General
Ikeja Electric Says Customers Crucial to Achievement of Goals
By Modupe Gbadeyanka
Chairman of Ikeja Electric, Mr Kola Adesina, has explained the critical role customers play in achieving some of the goals set by the energy firm.
Mr Adesina, while commenting on the 2018 Sustainability Report of the company titled Committed to Excellence – Half a Decade of Bringing Energy to Life, stated that, “Our customers and other stakeholders are crucial to the achievement of our goals; and we believe that a business can only be deemed strong and successful when its stakeholders are satisfied with the services provided.”
Speaking further, he said in view of this, “The board will continue to support initiatives that promote its sustainability agenda while creating value in the coming years.”
Business Post reports that the 2018 Sustainability Report reflects IE’s performance, accomplishments, challenges, passion for its business and its growth opportunities in the year under review.
Being the first and only electricity distribution company in Nigeria to produce a sustainability report, the publication covers the firm’s sustainability journey post-takeover with the inherent accomplishments including rebranding, infrastructure investments, smart technology investment, business process investment and performance improvement among other successes attained from the takeover period up to December 2018.
The 2018 Sustainability Report is the fourth report published by IE in successive order, and commemorates five years of the takeover of the company’s operation by its core investors following privatization on November 1, 2013.
“The scope of IE’s sustainability reports has moved beyond merely communicating financial risks to performance reporting aimed at fostering stakeholder confidence, long-term risk management, building the Company’s reputation and refining its corporate vision and strategy.
“Through the yearly publication of sustainability reports, IE has demonstrated its commitment to accountability, responsibility and transparency, which have unarguably, distinguished the Company in the Nigerian Electricity Supply Industry (NESI),” Mr Adesina said.
“Since we took over in November 2013, we have put in place, strategies that will steer the electricity distribution arm of the electricity sector value chain to greater heights,” he added.
“We have assembled a strong leadership team with extensive experience, robust industry and consumer knowledge, focused on innovation and growth. In addition, we have reinvigorated our legacy of sustainability with the introduction of customer-centric initiatives, which are geared towards assuring all stakeholders of a business built on accountability, responsibility, transparency and fairness.
“We have demonstrated that with the right leadership, the Company can continue to grow and improve its performance as expected by all stakeholders,” the Chairman further said.
“We do not report data because it is popular, or because others do so. We track our sustainability performance because it helps us make better decisions, helps to de-risk projects, discover new opportunities and deliver real value for our business.
“We acknowledge that there is still work to be done and we will continue to do all we can to ensure we maintain our brand promise – bringing energy to life,” he noted.
Ikeja Electric said it aims to publish its Sustainability Reports on an annual basis and the intended audience for this report are key stakeholders, which include customers, employees, shareholders, suppliers, government and regulatory bodies. These stakeholders directly impact and are also directly impacted by the activities of the company.
The report, which is developed by the organisation’s Governance & Compliance Office, highlights that in 2018, the Sustainable Development Goals (SDGs) aided the company in securing its social license to operate and build the trust of its stakeholder groups.
Businesses cannot succeed in societies that fail, and as such, the company invested in the achievement of SDGs such as; ensuring healthy lives and promoting wellbeing for all at all ages; ensuring inclusive and equitable quality education; promoting lifelong learning opportunities for all; achieving gender equality and empowering women and girls.
The company also contributed to the achievement of the SDGs by providing access to affordable, reliable, sustainable and modern energy for all; building resilient infrastructure, promoting inclusive and sustainable industrialization; fostering innovation and promoting peaceful and inclusive societies for sustainable development.
Other contributions include provision of access to justice for all; building effective, accountable and inclusive institutions at all levels; strengthening the means of implementation and revitalizing the global partnership for sustainable development.
Ikeja Electric reported that within the period under review, it established better technology-driven processes, leveraged data to measure performance for a more consistent growth pattern, optimised its network to drive efficiency and enhanced its security management system.
It also deepened its Quality Health, Safety and Environment (QHSE) processes and procedures through learning and development programs such as Target Zero and QHSE at a glance which impacted positively on employees, vendors and contractors.
Over the years, the company has strengthened its stakeholder engagement and partnership to foster better relationships and maintain a social license to operate, whilst building a committed workforce by treating its employees fairly through reward and recognition initiatives put in place to incentivize the excellent performance of employees.
The 2018 Sustainability Report was organised and presented in accordance with the Sustainability Reporting Standards of the Global Reporting Initiative (GRI). The GRI Standards seek to achieve consistency amongst organizations reporting on their sustainability activities.
Full access to Ikeja Electric’s 2018 Sustainability Report is available on https://www.ikejaelectric.com/corporate-governance/ or https://bit.ly/2SDQbK6
General
NUPRC Probes Gas Bubbling in Bille Community in Rivers
By Aduragbemi Omiyale
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced an investigation into a gas bubbling incident in Bille community in Rivers State, but preliminary “deductions and field observations indicate that the gas bubbling may be associated with a subsurface phenomenon that could be linked to a variety of triggers.”
In a statement signed by its chief executive, Mrs Oritsemeyiwa Eyesan, on Thursday, the agency said it was worried about the unfortunate incident, assuring residents that efforts are being made to address the issue.
The commission acknowledged the concerns the “unsavoury development has raised in relation to public safety, the environment, and the health of the populace,” stressing that, “The overall well-being of our communities and the protection of the environment remain paramount to the commission, as they are to government.”
It stated that, “Upon notification of the incident, the commission activated a coordinated technical investigation process in line with established regulatory protocols to assess the nature and extent of the gas seepage, identify source(s) and potential cause(s), and propose immediate and long-term mitigation measures.”
“The investigative study is being conducted in collaboration with stakeholders to ensure comprehensive, fact- based outcomes for long-term sustainability,” it added.
“Detailed geotechnical and geological analyses are ongoing to determine the contributing factor(s) and possible remedies for prompt implementation,” the statement further said.
“The commission assures the Bille community of its resolve to ensure that necessary actions required to address the situation are taken in line with applicable regulations, industry standards and global best practices.
“Once again, the commission commiserates with the Bille community as we work assiduously with all stakeholders to unravel the incident, and enjoins members of the community to maintain the commendable level of responsibility whilst adhering to all safety measures and public health advisories issued by the relevant authorities,” the statement disclosed.
General
Akwa Ibom Denies Plan to Sell Ibom Power Company
By Adedapo Adesanya
The Akwa Ibom State Government has dismissed claims that it plans to sell Ibom Power Company, describing the allegation as false and reaffirming its commitment to reviving the state-owned electricity asset through debt repayment and structural reforms.
In a statement issued on March 18, the Commissioner for Information, Mr Aniekan Umanah, said a report by a Uyo-based tabloid alleging plans to dispose of the company was “a wicked fabrication” that should be disregarded.
“At no time has the government approved the sale of Ibom Power Company as scrap or otherwise,” the statement said, adding that such claims exist only in the “imagination of mischief-makers intent on misleading the public.”
Instead, the government said it is focused on stabilising the company’s operations by clearing legacy debts, including a $9 million facility obtained from Afreximbank several years ago.
According to the statement, Governor Umo Eno approved a structured quarterly repayment plan of $560,000 beginning March 15, 2025, aimed at gradually liquidating the loan.
The government described the move as part of broader efforts to “rescue and reposition Ibom Power Company for sustainable operations,” stressing that the approach reflects a commitment to “revival, stability, and long-term value preservation, not liquidation.”
Beyond debt repayment, the state also outlined ongoing electricity sector reforms anchored on a Private Sector Participation (PSP) framework designed to attract investment while retaining public ownership of assets.
Under the initiative, the government said it has established key institutions, including the Akwa Ibom State Electricity Regulatory Commission and Ibom Electricity Holdings Limited, to strengthen oversight and coordinate state-owned electricity assets. Shares of the holding company have also been vested in the Akwa Ibom Investment Corporation.
The concession model being introduced will allow qualified private operators to rehabilitate, finance, and manage electricity infrastructure over a defined period, with strict performance benchmarks and regulatory supervision.
The government said the framework is structured to ensure that “the State will retain ownership and strategic control of all electricity assets,” while transferring operational and commercial risks to private sector participants.
It added that the reform programme is expected to improve reliability, resolve longstanding challenges, and promote a more efficient electricity market without placing additional fiscal pressure on the state.
On recent power outages across parts of Akwa Ibom, the government noted that electricity transmission and distribution currently fall outside its direct control. However, it said efforts are ongoing to engage relevant authorities to address the disruptions and improve supply.
The statement also criticised the publication that carried the initial report, accusing it of spreading misinformation and warning that “government’s measured silence should not be mistaken for weakness,” citing existing laws on libel and defamation.
General
Eid-el-Fitr: Gaya Urges Prayers Against National Challenges
By Modupe Gbadeyanka
Nigerians have been urged to use the occasion of Eid-el-Fitr to intensify prayers against the challenges confronting the nation.
This appeal was made by the independent non-executive director of the Nigeria Sovereign Investment Authority (NSIA), Mr Abdullahi Mahmud Gaya.
Mr Gaya described the current situation in the country as a test of citizens’ spiritual resolve and faith, tasking Muslims to reflect on the deeper significance of Eid-el-Fitr, noting that the festival symbolises sacrifice, obedience to Allah, and compassion for the less privileged.
“Every Muslim finds joy in observing the Ramadan fast, a fundamental obligation in Islam. We should not lose sight of the lessons it teaches: obedience to Allah, sharing our blessings with the needy, and being our brother’s keeper,” he said in a statement issued by his media assistant in Kano.
Speaking on the forthcoming general elections, Mr Gaya advised the electorate to vote for selfless leaders committed to national service and the welfare of Nigerians, describing the polls as a choice between progress and regression, stressing the need for voters to support candidates with verifiable achievements rather than empty promises.
He also urged Nigerians to remain mindful of their civic responsibilities by choosing leaders who demonstrate integrity, sincerity, and dedication.
According to him, the country’s future depends on the electorate exercising their voting rights wisely to elect leaders who understand the responsibilities of public office and approach them with humility, competence, and genuine commitment to service.
Mr Gaya expressed gratitude to Almighty Allah for His mercies and felicitated with the people of Ajingi, Gaya, and Albasu Local Government Areas, as well as Governor Abba Kabir Yusuf and Nigerians at large, on the successful completion of the Ramadan fast.
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