IBEDC, Oyo State Govt at Loggerheads over N400m/N450m Debt

Ibadan Electricity Distribution Company, IBEDC and the Oyo State Government are in serious disagreement over what the former referred to as a four hundred and fifty million naira debt (N450m) yet to be paid by the state government to the distribution company.

On the other hand, the state government sealed some of the offices of the distribution company on grounds that IBEDC owes tax of four hundred million naira (N450m) and have not shown interest in paying up.

According to the report, some of the branches shutdowns include their headquarters located at Ring Road, as well as those at Mobil, Oluyole Extension, Dugbe, Ojoo-Iwo Road and Monatan.

The disagreements between the two parties have resulted in heavy blackouts in the towns and communities as the Ibadan residents are the ones bearing the pain.

The distribution company hinted that there would be a blackout in a statement following the decision of the state government to seal its offices over tax debt.

The adverse effect would have a damaging impact on businesses and service delivery to its customers, adding that their company has been trying hard to reduce the hardships the residents would be facing as a result of the disagreement.

State Govt Seals IBEDC Offices over Failed Tax Remittances

The sealing was carried out by officials of the Oyo State Bureau of Internal Revenue, who acted on the need to motivate the distribution company on paying the accumulated tax debt incurred over the years.

The government explained that the action became imperative because the IBEDC had accumulated a tax debt of over N400 million in the last two years.

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