BEDC management denies rumours of dissolution, increases revenue

News Agency Of Nigeria

March 28, 2024 2:56 PM

The management assures all staff that the news is entirely false and baseless as the current board and management remain intact.

Benin Electricity Distribution Company BEDC (Independent Newspapers Nigeria)

The Management of Benin Electricity Distribution Company (BEDC Electricity Plc.), on Thursday, said that the Management and Board of BEDC were intact and not dissolved contrary to speculations in the public domain.

This is contained in a statement signed by its management and made available to newsmen in Benin through its acting Head, Cooperate Affairs, Evelyn Gbiwen.

The statement reads “BEDC management’s attention has been drawn to the fake news publication in some national dailies with the caption “Poor Power Supply: FG Moves to take over BEDC, Sack Management.

“Since the publication, we have been inundated with inquiries from concerned internal and external stakeholders seeking further information.

“Management hereby assures all staff that the news is entirely false and baseless as the current board and management remain intact and are fully committed to the success and growth of BEDC.

“Through collective efforts and commitment, the company has achieved significant milestones since the inception of the current board in July 2022 in various aspects of operations,” the statement said.

In the statement, BEDC management noted that it has increased collection of revenue from ₦4.9 billion as of July 2022 to more than ₦7.6 billion as of February 2024 with a significant reduction in aggregate technical, commercial and collection loss.

“This achievement is a testament to the hard work and dedication of the entire management and staff of BEDC.

“It justifies management’s decision to embark on salary increments as well as promotion of deserving staff and other forms of incentives to the workforce in the past months.

“The current Board of Directors, working with the Lender Banks, remains committed to its mandate of facilitating the divestment of 60% shares of the company to investors within the shortest time while ensuring optimal operations,” the statement added.

The statement enjoined all staff to remain steadfast in their duties and should continue giving off their best efforts to drive the growth and success of BEDC Electricity Plc.

News Agency Of Nigeria