Ikeja Electric, has reiterated that it will invest $100m (about N20bn) in smart pre-paid meters which will be distributed to its customers for free starting from June, The Punch reports.
The company said it would begin a pilot scheme of the deployment of the meters in May, with 2,000 units to be distributed, after which it would roll out another 5,000 in June and 12,000 to 15,000 units in subsequent months.
The Managing Director and Chief Executive Officer, Ikeja Electric, Mr. Abiodun Ajifowobaje, said “We have concluded that now and we have signed an agreement to the tune of almost $100m for us to meter all our customers starting from the first week of June. We are going to bring in smart meters. When we present them to the customers, everybody will be happy, and we are going to roll them out massively over the next three years.”
According to the purchase agreement with the government, the distribution companies are supposed to meter all customers within five years, he noted. “But at Ikeja, we have decided that we are going to do that within three years at no cost to the customers. We not going to collect money from our customers. We are going to issue the meters free of charge” he said.