*The Nigerian Electricity Regulatory Commission appoints Special Directors to constitute the interim Board, says its decisive action followed ‘severe financial insolvency’ of the Kaduna Electricity Distribution Plc’s total market obligations of approximately N456.5 billion in debts
Isola Moses | ConsumerConnect
Sequel to confirmed over ₦456.5 billion total debt overhang incurred by the company, the Nigerian Electricity Regulatory Commission (NERC) has dissolved the Board of Kaduna Electricity Distribution (KAEDC) Plc.
The Commission disclosed this development in a statement Monday, shared via its verified X account @NERCNG) August 10, 2026, bearing an Interim Order (Order No: NERC/2026/086) dissolving the Board of Kaduna Electricity Distribution Plc, effective August 10, 2026.
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ConsumerConnect reports the NERC said the action was pursuant to Sections 75–79 of the Electricity Act 2023.
The statement also noted: “This decisive action follows severe financial insolvency, with KAEDC accumulating over ₦118.6 billion in additional market debt under ASI Engineering Limited by May 2026, bringing total market obligations to approximately ₦456.5 billion.”
The country’s power sector regulator explained the utility company remitted only 41.93 percent of its adjusted market invoices 2025.
It equally noted KAEDC recorded ATC&C losses of 71.88%, invested only ₦2.48 billion against a capital requirement of ₦24.51 billion, and maintained customer metering coverage of less than 36%.
NERC further stated: “To ensure uninterrupted service delivery and operational stability, an interim board of Special Directors has been constituted, chaired by Dr Abdullahi Garba, while Dr. Abubakar Umar Hashidu has been appointed as Administrator for an initial 6-month term.
“Furthermore, Afrexim will coordinate a transparent 12-month competitive process to secure a competent replacement core investor.”
The Commission as well announced the appointment of Special Directors, who shall constitute the interim Board for the transition period.
The interim Board, NERC noted, shall exercise governance and oversight powers subject to this Order, any written direction of the Commission, the EA and the Licensee’s applicable licence obligations.
“Any vacancy or replacement shall be determined solely by the Commission.”
The electricity industry regulator listed Francis Agoha, Aliyu Aliyu, Henry Ayamasaowei and Haliru Dikko as Special Directors, while Ayodeji A. Gbeleyi will represent the Bureau of Public Enterprises (BPE).
Meanwhile, NERC has assured that electricity distribution services across the KAEDC franchise area remain safe and uninterrupted all through the transition period.