KAEDC is one of the five Electricity Distribution Companies taken over by their funders.
A company spokesperson said the activities of vandals were crippling power distribution to the company’s customers.
“The general public is hereby assured of restoration of electricity supply as soon as possible while the two parties shall continue amicable resolution of the issues…”
The takeover includes the assets, shares and interests in related companies and entities, in addition to the monies kept in banks.
Out of the N91 billion intended investment, the sum of N18.2 billion would be invested on network expansion alone in 2021.
Two persons were electrocuted on Iwo-Adogba road in Ibadan at about 4 p.m. on Friday.
