The Ibadan Electricity Distribution Company (IBEDC) has made N19 billion.
Its Chief Executive Officer, Bolaji Oyesiku, disclosed this while briefing members of the House of Representatives Committee on Power during their visit to the company.
The company distributes electricity to Oyo, Osun, Ogun and Ekiti states with some extended services to three others.
Oyesiku, who sought more support from the Federal Government in its drive to improve services and revenue, appealed to members of the committee to bear in mind the challenges facing the company while considering the 2012 budget.
He assured the staff of security of their jobs when investors eventually take over the power distribution companies, saying their services would still be needed by the incoming team.
The committee Chairman, Hon. Patrick Ikhariale, said the National Assembly would consider amending the enabling law guiding the generation and distribution of electricityto allow state governments and other investors to participate in the sector.
The legislator, who led other members of the committee to the Ibadan Electricity Distribution Company (IBEDC) on oversight functions, stated that the proposal, when considered by the National Assembly, would give legal teeth to participation of individuals and corporate organisations in the provision of electricity in the country.
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Ibadan PHCN generates N19b