Eko Electricity Distribution Company has approved a 20 per cent cost of living adjustment for its staff, as announced by its board of directors.
A statement issued on Monday by EKEDC stated that the cost-of-living adjustment would be effective July 2024.
It noted that the decision 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,” the statement said.
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 to 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.
The Acting Chief Executive Officer, Mrs Rekhiat Momoh, appreciated the board of directors for approving the adjustment, saying it would cushion the effects of inflation and other economic pressures on staff.
Momoh asserted, “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.”
She explained that the 20 per cent adjustment would be reflected in the next payroll cycle and apply to senior managers and below, while the 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,” Momoh averred.
