The Nigerian Electricity Regulatory Commission (NERC) dissolves the board of Kaduna Electricity Distribution Plc (KAEDC) following the company’s cumulative market obligations of about N456.5 billion and sustained financial and operational challenges. NERC also initiates a process to appoint new leadership.
NERC appoints an interim set of special directors and, in at least one report, designates KAEDC’s Managing Director/Chief Executive Officer, Dr. Abubakar Umar Hashidu, as an administrator for an initial six-month period. The regulator cites severe financial, operational, and regulatory failures, indicating that governance and performance concerns remain unresolved.
Across outlets, the central points are consistent: the board is dissolved, NERC points to the large debt figure and ongoing difficulties, and interim management is put in place while a transparent selection process for a new investor or core investor is described in one report. The details of the interim structure vary by phrasing, but the regulator’s control and timeline for interim oversight are broadly aligned.
