Mohammed Shosanya
Kaduna Electric has urged its customers to remain calm in the face of the 60-day notice of Intention to cancel its electricity distribution license by the Nigerian Electricity Regulatory Commission.
The agency had said its action follows sequel failure of the power firm’s management and investors to address concerns about the financial sustainability and systemic risk that it poses to the electricity market.
But a statement by the company’s image maker,Abdul Azeez Abdullahi,quoted him as assuring Kaduna Electric’s customers of ongoing engagements between the Commission and shareholders including the Bureau of Public Enterprises and Lenders as to address the long-running and current issues at the company.
The statement also said that the company will continue to provide electricity in our Franchise Area – Kaduna, Kebbi, Sokoto and Zamfara states – with the utmost sense of duty and professionalism.
It added:Kaduna Electric acknowledges the 60-day Notice of Intention to Cancel its Electricity Distribution License by the Nigerian Electricity Regulatory Commission.
“The notice, in line with the regulatory power of the Commission, is coming on the heels of an initial engagement between the Commission and Shareholders/lenders to Kaduna Electric-in-Receivership in sustaining the mutual objectives of the Federal Government for an intervention in a number of Electricity Distribution Companies including Kaduna Electric for a turnaround of the DisCos and sale of core interests to new investors.
“While the Board and Management have continued to work on the intervention objectives, challenges remain, and stakeholders continue to engage on addressing them”