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Business News of Saturday, 17 September 2022


N5.2bn collection excites PHED

It has been reported that the Port Harcourt Electricity Distribution Company has raked in the sum of N5.2bn from electricity bills collection.

The initial target was N7.4bn in August 2022.

Speaking at a media briefing in Port Harcourt on Friday, the Managing Director and Chief Executive Officer of PHED, Dr Benson Uwheru, said the initial target was N7.4bn in August 2022.

According to him, the distribution company was targeting 80 per cent metering in its franchise by December.

His words;

“About 60 percent of our customers are metered. What it means is that 40 percent are unmetered.

“Our plan is to ensure that we meter all the customers in our database. We are in talks with various financial institutions for asset financing programs to procure meters for our customers, where the payment plan will be spread over a period.

“I can say that between now and December we are going to push aggressively and reduce the 40 per cent to another 10 to 20 per cent, which is possible.”

Dr. Uwheru added, “Upon resumption, we have hit the ground running and we have achieved quite a few milestones.