…firm supplies 22h/per day electricity to govt offices, industries in Edo
The Ossiomo Power and Infrastructure Company Limited has won the BusinessDay Next Bulls Awards 2022 in recognition of its “market leadership and pace-setting innovation.”
In a letter signed by the Publisher of BusinessDay Media Limited, Frank Aigbogun, said the company was picked from a list of 150 leading private, indigenous companies for its “innovation, brand authenticity, growth trajectory, market dominance, and most importantly, the proudly Nigerian values espoused by its leadership.”
Ossiomo Power Company, which has an embedded power license as well as a willing buyer-willing seller license, operates two power grids, serving government offices and streetlights in Benin metropolis, Emotan Gardens Estate, Edo Tech Park, Edo Modulary Refinery, the John Odigie Oyegun Public Service Academy, Edo Creative Hub, Benin Industrial and Enterprise Park, and Ologbo and Obayantor communities.
The company’s power lines were powered in 2020 and it has since grown its market share substantially as a result of its competitive tariff, reliable power supply with an average performance of 97.5% or 22 hours per day and 100 percent metering.
Aigbogun said the Next Bulls award follows an informal, proprietary survey carried out on 500 respondents, which comprise equity analysts, retail and institutional investors, financial journalists, sectoral experts, professionals and millennials.
He added that 75 respondents identified Ossiomo Power and Infrastructure Company Ltd as a company whose stock they would like to own in their dream equity portfolio for long-term holding if the choice was limited to only 10 companies. The respondents affirmed that they would invest in the company’s initial public offering (IPO) if it ever approached the market.
Aigbogun noted that in making the decision, the Awards Review Committee was guided by the achievements of Ossiomo Power and Infrastructure Limited, which include its “track record as an independent power company dedicated to providing power to the Benin Industrial and Enterprise Park as well as several local communities in Edo State. Other considerations are the company’s contributions towards attracting new businesses and investors through the development of critical infrastructure; demonstrated commitment to national and economic development and the local jobs it has created.”