AMCON sells Ibadan DisCo for N100bn
[NigerianEye - Nigeria] - 3/07/2025
The Asset Management Company of Nigeria has announced that the Ibadan Electricity Distribution Company (IBEDC) has been sold. Gbenga Alake, the managing director (MD) and chief executive officer (CEO) of AMCON, disclosed details of the sale during a media parley with media executives on Thursday. In April 2024, the federal government said it would sell five power distribution companies under the management of banks and AMCON. The DisCo, managed by AMCON, is one of five listed firms. The rest are the Abuja Electricity Distribution Company (AEDC), Benin Electricity Distribution Company, (…)
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