EKEDC Board Approves 20% Cost of Living Adjustment for Staff

Eko Electricity Distribution Company (EKEDC) yesterday, announced that its Board of Directors has approved a 20 per cent Cost of Living Adjustment (COLA) for all staff, effective July 2024.

The decision, according to the Disco, reflected the company’s commitment to the well-being and financial stability of its workforce amid the current economic realities.

“Through the increment, EKEDC aims to support its staff in maintaining their quality of life and ensuring they can continue to deliver exceptional service to customers,” it added.

The Chairman of the Board of Directors of EKEDC, Dr. Oritsedere Otubu, stated: “Our employees are our greatest assets and their dedication to improving our service to customers is admirable.

“We are proud of their unwavering commitment towards achieving success and we are in turn committed to improving their welfare. This adjustment is well deserved and it is another call to continuous improvement as we work towards reaching our goal of a safe, reliable and uninterruptible power supply.”

Otubu, also called on other companies to do the same to lift their employees’ spirits during this challenging time as the economy recovers.

Reacting to the adjustment, the Acting Chief Executive Officer, Mrs. Rekhiat Momoh, appreciated the Board of Directors for approving the adjustment, saying it will cushion the effects of inflation and other economic pressures on staff.

She further noted that, “In these challenging times, we must support our employees who work tirelessly to serve our customers. This cost-of-living adjustment is a testament to our commitment to their welfare and our appreciation for their hard work”.

The 20 per cent adjustment would be reflected in the next payroll cycle and applies to Senior Managers and below while 15 per cent adjustment would apply to Principal Managers and above.

“This initiative underscores EKEDC’s dedication to fostering a supportive and rewarding work environment,” it added.