…appoints sole administrator
The Nigerian Electricity Regulatory Commission (NERC) has assumed direct control of Kaduna Electricity Distribution Plc (Kaduna DisCo), dissolving the utility’s board and stripping its core investor of management authority over a N456 billion debt.
NERC said in an order dated August 10 that Kaduna Electricity, known as Kaduna DisCo, is in a “grave situation” marked by prolonged default, weak commercial performance and a balance sheet where liabilities have outrun assets.
The regulator invoked its intervention powers under sections 75 to 79 of the Electricity Act 2023, the strongest tool available to it short of revoking the company’s license outright.
“The commission therefore is obliged to act in the public interest and to safeguard continuity of distribution services in KAEDC’s network area,” the order states, citing the risk that further delay could trigger an unplanned collapse of service and expose Nigeria’s electricity market to systemic risk.
