Business

N450m debt: Oyo government, IBEDC in war of power

It is a war of power (political Vs electrical power) in Oyo state as the Ibadan Electricity Distribution Company (IBEDC) has disconnected power supply to the state government over N450 million owed the company.

In a retaliatory move, the Oyo state government sealed offices of the electricity distribution company on Wednesday, over outstanding tax debts.

According to the company’s Chief Operating Officer, Engr. John Ayodele, the state government is owing IBEDC a whopping consumption outstanding of N450 million for over a period of three years adding that that the company as part of efforts to get outstanding paid, initiated several engagements through correspondences and physical meetings, but all these efforts yielded no result.

“No business in this country can run successfully with such a huge outstanding, the power we distribute to customers must be accounted for and paid for, we have no choice but to disconnect the Oyo State Secretariat, so it is worrisome to see that the government has sealed off our offices with this underhand and arm twisting tactics, instead of paying the debt owed. This was not done in good faith and it would have damaging effect on the business and service delivery to our customers.

“This issue of revenue bills and personal income arising now is quite suspicious.”

The Oyo State Government, through Dr Wasiu Olatubosun, the State Commissioner for Information, Culture and Tourism, said the state government, confirmed the closure of IBEDC offices due to tax debts owed by the company.

An official of IBEDC, who pleaded anonymity, told NAN: “Yes, IBEDC owes some tax, but the amount is not as huge as the electricity bill the state government is owning.

“So, now we are saying that if they pay their electricity bill, we will pay the tax also,” the official said.

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