John Ayodele, chief operating officer of IBEDC, had said the government was owing IBEDC N450 million for electricity used over a period of three years.
But, Wasiu Olatunbosun, the Oyo commissioner for information, made the clarification while informing the issue between the government and the company.
Olatunbosun said IBEDC also owes N139,440,000 in harmonised bills, N122,590,000 infrastructure bills, N116,516,111.41 tax audit bills and N22,000,000 signage bills.
In a statement jointly signed by Temilolu Ashamu, commissioner for energy and mineral resources, and John Ayodele, chief operating officer of IBEDC, the parties assured residents that they will continue to work together in public interest.
They also assured members of the public that electricity will be restored and metres made available to residents.
“This is to notify the general public that the Oyo State Government and the IBEDC have resolved and agreed to work together in the interest of the public,” the statement reads.
“The general public is hereby assured of the restoration of electricity supply as soon as possible, while the two parties shall continue amicable resolution of the issue in the interest of the public, including working together to make electricity meters available to residents of the state.”