Mohammed Shosanya
ASI Engineering Limited (ASI),has acquired 60% equity stake in Kaduna Electricity Company Plc (Kaduna Electric).
This acquisition,the company said,marks a significant milestone for ASI Engineering Limited as it continues to expand our global footprint and contribute to the development of critical infrastructure in emerging markets.
According to a statement,the acquisition of Kaduna Electric aligns perfectly with its strategic vision to enhance energy access, reliability, and efficiency in Nigeria.
It noted that Kaduna Electric serves as a vital lifeline for residents, businesses, and industries in the franchise states (Kaduna, Zamfara, Sokoto, and Kebbi),adding that ASI is committed to leveraging its expertise, resources, and technology to optimize its operations and service delivery.
The statement quoted that ASI is collaborating with stakeholders, especially the state governments within its franchise licence area,to create sustainable solutions that align with the region’s unique needs.
It explained that these unique collaborations will attract the needed investments to upgrade and turn around electricity distribution in the Kaduna Electric franchise area.
It reiterated its vision to make Kaduna Electric a national leader in electricity distribution, driving sustainable development and enhancing the quality of life through innovative and reliable solutions.
It hinted that the company’s collaborative approach will focus on modernizing the electricity distribution network,implementing innovative solutions for energy management, and fostering greater customer satisfaction and engagement.
It added:”The acquisition of 60% equity of Kaduna Electric, which NERC has approved, marks a new dawn in the turnaround and repositioning of Kaduna Electric. ASI Engineering Limited’s entry
into the Nigerian Electricity Market currently is a testimony and demonstration of faith in the efficacy of the renewed hope agenda of His Excellency President Bola Ahmed Tinubu.
“ASI Engineering Limited is bringing new dynamic leadership to Kaduna Electric through a newly invigorated board and management with vast experience in utility turnaround. We want to thank the Nigerian Electricity Regulatory Commission (NERC), the Bureau of Public Enterprises (BPE), the interim board and the Administrator of Kaduna Electric for their work so far at Kaduna Electricity distribution company.
“As part of the acquisition agreement, ASI is committed to upholding the highest standards of corporate governance, environmental stewardship, and social responsibility. We will prioritize investments in infrastructure upgrades, employee training and development, as well as community engagement initiatives to create lasting value for all stakeholders”.
