NERC Dissolves Kaduna Disco Board over N456bn Market Debt
NERC said KAEDC’s market obligation reached N456.5 billion as it cited weak remittances, 71.88% losses and failed recapitalization efforts.
- On Monday, August 10, 2026, the Nigerian Electricity Regulatory Commission dissolved the board of Kaduna Electricity Distribution Company and appointed Managing Director Abubakar Umar Hashidu as administrator for an initial six-month period.
- The intervention follows an inquiry revealing KAEDC's cumulative market obligation of approximately N456.5 billion. NERC linked this to poor remittance performance, noting the company could account for only 28.2 per cent of electricity received and delivered to end-use customers.
- Since ASI Engineering Limited assumed operations in June 2024, the DisCo incurred an additional N118.6 billion in market debt as of May 2026. Meter coverage remained between 33.26 per cent and 35.54 per cent despite regulatory interventions.
- KAEDC's capital expenditure performance reached only 10 per cent in 2025, against a minimum provision of N24.51 billion. NERC noted that financial difficulties persisted despite Federal Government intervention disbursements of approximately N53.79 billion since July 2018.
- Alongside the administrator, NERC appointed an interim board of special directors. The regulator also directed commencement of a transparent process to select a new core investor for KAEDC to ensure sustainable recovery.
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NERC dissolves Kaduna Electric board over poor performance
The Nigerian Electricity Regulatory Commission (NERC) has announced the dissolution of the board of directors of the Kaduna Electricity Distribution Company (KAEDCO). This is coming two years after the company was taken over by ASI Engineering Limited in June 2024. NERC, in an order signed by its Chairman, Musiliu O. Oseni and Commissioner Legal, Licensing & Compliance, Dafe Akepeneye, said the dissolution followed the inability of the new owner…
NERC dissolves Kaduna Disco board over N456bn market debt
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc (KAEDC) over the company’s N456.5bn cumulative market obligations and prolonged financial and operational challenges. The regulator also appointed an interim board of special directors and directed the commencement of a transparent process for the selection of a new core investor […] NERC dissolves Kaduna Disco board over N456bn m…
NERC sacks Kaduna DisCo’s board over N456bn debt, appoints interim administrator
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDC) and appointed its Managing Director/Chief Executive Officer, Dr. Abubakar Umar Hashidu, as administrator for an initial six-month period, citing severe financial, operational and regulatory failures. The post NERC sacks Kaduna DisCo’s board over N456bn debt, appoints interim administrator appeared first on Vanguard New…
NERC Dissolves Kaduna DisCo Board Over Debt
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc over severe financial challenges and rising market debt. In a statement on Monday, NERC said it issued an interim order, effective August 10, 2026, to dissolve the board of KAEDC under Sections 75 to 79 of the Electricity Act 2023. NERC has issued an Interim Order (Order No: NERC/2026/086) dissolving the board of Kaduna Electrici…
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