- NERC removed all the company directors effective January 1, 2024, over its inability to pay the debt of over N110 billion ($130m) owed to the NBET and other market operators.
- NERC appointed and constituted a new board and management.
The chairperson of the Special Board of Kaduna Electric, Rahila Thomas, restated yesterday the commitment of the Board to build a highly motivated and result-oriented workforce for the disco. Mrs Thomas made the assertion when she led the new Board members on their maiden duty tour of formations of Kaduna Electric and engagement with the staff in Kaduna yesterday. Recall that the Nigerian Electricity Regulatory Commission (NERC) had removed all the directors of the company effective January 1, 2024, over its inability to pay the debt of over N110 billion ($130m) owed to the Nigerian Bulk Electricity Trading Plc (NBET) and other market operators.
Consequently, the regulator constituted a new board and management and appointed Mrs Rahila Thomas as chairperson and Dr Umar Abubakar Hashidu as the administrator and chief executive officer, further to section 75 of the Electricity Act 2023. According to the chairperson, with the enactment of the Electricity Act 2023, the Nigerian Electricity Regulatory regulatory landscape has shifted. This calls for more concerted efforts to reverse the performance trajectory of the Company.
“The intervention we are witnessing today is not merely a change in leadership but a response to the pressing issues affecting the core of Kaduna Electric operations. It is essential to be transparent about the reasons behind this regulatory intervention, the first under the new Electricity Act 2023, so you understand the urgency and necessity of the task ahead of all of us,” she said. She appreciated the staff and called on them to brace up as the challenges of the current dispensation are high and demand more innovative solutions and collaboration for sustainable transformation of the company. Other Board members in the entourage are Malam Sharfuddeen Mahmoud, Dr. Kabiru Adamu and Engr. Ayodele John.