By Adaobi Rhema Oguejiofor
The Kaduna Electricity Distribution Company (KAEDCO) has promised to continuously provide electricity to its franchise areas, which include Kaduna, Kebbi, Sokoto and Zamfara States, despite the 60-day license cancellation notice that was issued to the Disco by the Nigerian Electricity Regulatory Commission (NERC).
Earlier, NERC, had published a notice, tagged NERC/LC/023 and signed by its Commissioner for Legal, Licencing and Compliance, Dafe Akpeneye, giving the Disco a 60-day ultimatum to repay its debt of N51 billion, among other issues, or have its operating license revoked.
However, the Management KAEDCO, in a statement, said that the notice, in line with the regulatory power of NERC, came after an initial engagement between the Commission and the shareholders or lenders to Kaduna Electric-in-Receivership for sustaining the mutual objectives of the Federal Government for an intervention in a number of electricity distribution companies, including Kaduna Electric. The intervention is sought after in order to bring about a turnaround of the Discos, as well as for the sale of core interests to new investors.
‘While the board and Management of KAEDCO have continued to work tirelessly on the intervention objectives, challenges remain, and stakeholders will continue to engage on ways to address these challenges,” the statement read in part.
The Disco assured their numerous customers of the ongoing engagements between the NERC and some shareholders including the Bureau of Public Enterprises (BPE) and Lenders in order to come up with solutions that will address the long-running and current issues at Kaduna Electric.