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4 states to repurchase shares from BEDC

The Edo State government at the weekend disclosed that plans are underway by Edo, Delta, Ekiti, and Ondo states to buy back their shares from the Benin Electricity Distribution Company (BEDC).

Daily Trust reports that BEDC is responsible for retail distribution of electricity in Delta, Edo, Ekiti, and Ondo states.

The Edo State Governor Godwin Obaseki disclosed this at the 2023 Delta State Executive Council Retreat held in Asaba, with the theme: “Delivering the M.O.R.E Agenda for Advancing Delta: Strategies Enablers”.

Obaseki, in his keynote address titled, “Innovative approach to building a state that works for the citizens (opportunities, challenges and prospects for advancing the Delta State economy”, said talks are ongoing between Delta, Edo, Ekiti, and Ondo states to repurchase the shares.

It would be recalled that the four states had earlier sold their shares in the electricity distribution company before now.

He, however, warned that sub-national and local governments must work assiduously to deliver for the people.

In his remarks, the Delta State governor, Sheriff Oborevwori, said with the end of the retreat, all commissioners are expected to sign a Performance Bond.