The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDCO) following what it described as severe financial insolvency amounting to N456.5 billion.
The commission announced the dissolution with immediate effect, citing the distribution company’s poor financial and operational performance.
According to NERC, Kaduna DisCo remitted only 41.93 per cent of its adjusted market invoices in 2025 and recorded losses of 71.88 per cent during the period.
The commission also said the company invested just N2.48 billion against a required capital investment of N24.51 billion, while customer metering coverage remained below 36 per cent.
To safeguard electricity supply and ensure operational stability, NERC constituted an interim board of Special Directors to oversee the affairs of the company.
The interim board will be chaired by Dr Abdullahi Garba, while Dr Abubakar Umar Hashidu has been appointed Administrator for an initial six-month term.
NERC further disclosed that the African Export-Import Bank (Afreximbank) would coordinate a transparent 12-month competitive process to secure a competent replacement core investor for the distribution company.
The commission assured electricity consumers within Kaduna DisCo’s franchise area that electricity distribution services would remain safe and uninterrupted throughout the transition.
