NEWS

Relief for students as AMCON sells Ibadan DisCo for N100bn

The Asset Management Company of Nigeria (AMCON) has announced the sale of the Ibadan Electricity Distribution Company (IBEDC) for N100 billion.

AMCON’s Managing Director/CEO, Gbenga Alake, disclosed this at a media parley on Thursday.

Apart from IBEDC, AMCON also manages other distribution companies, including the Abuja Electricity Distribution Company (AEDC), Benin Electricity Distribution Company, Kaduna Electricity Distribution Company, and Kano Electricity Distribution Company.

Alake said, “Today, I announce to you that Ibadan DisCo has been sold. When we came in, it had already been sold, but we renegotiated the price and got almost double of what it was initially going to be sold for.”

Regarding ongoing legal issues, Alake stated, “We have sold it, and whatever is still happening in court, we will face it.”

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Comrade OLOLADE A.k.a Mr Money of 9jaPolyTv is A passionate Reporter that provides complete, accurate and compelling coverage of both anticipated and spontaneous News across all Nigerian polytechnics and universities campuses. Mr Money of 9jaPolyTv Started his career as a blogger and campus reporter in 2016.He loves to feed people with relevant Info. He is a polytechnic graduate (HND BIOCHEMISTRY). Mr Money is a relationship expert, life coach and polytechnic education consultant. Apart from blogging, He love watching movies and meeting with new people to share ideas with. Add 9jaPolyTv on WhatsApp +2347040957598 to enjoy more of his Updates and Articles.