In a recent press statement, ASI Engineering Limited announced a successful acquisition of a 60% equity stake in the Kaduna Electric Distribution Company, approved by the Nigerian Electricity Regulatory Commission (NERC). This acquisition aligns with ASI’s strategic vision to enhance energy access, reliability, and efficiency in Nigeria, marking a new dawn for Kaduna Electric and the communities it serves.
The acquisition signifies ASI Engineering’s commitment to expanding its global presence and contributing to critical infrastructure development in emerging markets. Kaduna Electric is a vital lifeline for residents, businesses, and industries in Kaduna, Zamfara, Sokoto, and Kebbi states. ASI plans to leverage its expertise, resources, and technology to optimize operations and improve service delivery in these regions.
ASI Engineering is working to collaborate with state governments within its franchise area to create sustainable solutions tailored to the region’s unique needs. These partnerships aim to attract the necessary investments to upgrade and transform electricity distribution in Kaduna Electric’s service area. ASI’s vision is to make Kaduna Electric a national leader in electricity distribution, driving sustainable development and enhancing quality of life through innovative and reliable solutions.
The company is bringing dynamic leadership to Kaduna Electric through a reinvigorated board and management team with extensive experience in utility turnarounds. This leadership change is expected to spearhead the turnaround and repositioning of Kaduna Electric.
ASI Engineering is committed to upholding the highest standards of corporate governance, environmental stewardship, and social responsibility as part of the acquisition agreement. The company will prioritize investments in infrastructure upgrades, employee training and development, and community engagement initiatives to create lasting value for all stakeholders.
ASI ENGINEERING, priori, this investment is realistic and needs investing commitments.