IBEDC to Revive Redundant Hydro Power Plants

The Chairman of the Board of Directors of the Ibadan Electricity Distribution Company (IBEDC), Chief Tunde Afolabi, has announced a strategic move to improve electricity supply through the rehabilitation of redundant hydro plants in Oyo and Osun states. Speaking at a press briefing at the company’s headquarters in Ibadan, Afolabi explained that the board has identified several inactive hydroelectric facilities within these regions and intends to commit the necessary funding to bring them back into operation. This initiative is part of a broader embedded generation strategy designed to enhance energy reliability across the company’s expansive franchise area.

Beyond the restoration of hydro plants, the Chairman disclosed that IBEDC is aggressively working to increase its power capacity by purchasing electricity directly from generating companies. The firm is currently targeting an additional 200 megawatts over its existing allocation to stabilize and improve service delivery. This proactive procurement strategy is intended to bypass current supply limitations and ensure that residential and industrial customers receive more consistent power.

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The announcement follows the formal reconstitution of the IBEDC Board of Directors, a move triggered by the resignation of three nominees from the Asset Management Corporation of Nigeria (AMCON). The new board, chaired by Chief Afolabi, includes prominent professionals such as Mr. Ayodeji Ariyo Gbeleyi, Dr. Taiwo Afolabi, Prof. Oladapo Afolabi, and others. Afolabi characterized this transition as a significant milestone that signals a renewed focus on corporate stability, governance, and sustainable growth, emphasizing that the change represents investment and partnership rather than instability.

To support this new strategic direction, the Chairman pledged sustained capital investment in critical infrastructure. This includes the rehabilitation and expansion of feeders, the upgrading of transformers and injection substations, and the systematic replacement of obsolete network components. Despite these significant structural changes, Afolabi assured the company’s workforce that there would be no job losses resulting from the transition. He noted that while performance standards remain a priority, the goal is to empower the existing staff to drive the company’s next phase of growth.

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The leadership team also addressed the persistent challenges facing the Nigerian power sector, such as ageing infrastructure, energy theft, liquidity pressures, and tariff constraints. Board member Michael Magaji emphasized that stakeholder engagement and transparent communication will be central to their operations moving forward. IBEDC, which distributes power across Oyo, Ogun, Osun, Kwara, and parts of Ekiti, Kogi, and Niger states, aims to leverage this new investment to overcome these hurdles and deliver a more efficient service model to its millions of consumers.