NERC Dissolves KAEDC Board Over N456bn Debt Crisis

On August 10, 2026, the Nigerian Electricity Regulatory Commission (NERC) dissolved the board of the Kaduna Electricity Distribution Company (KAEDC) due to its N456.5bn cumulative market obligations and ongoing financial challenges. NERC appointed an interim board of special directors and designated Dr Abubakar Umar Hashidu, the current Managing Director/Chief Executive Officer, as the administrator for an initial six-month term.

The commission mandated the commencement of a transparent process to select a new core investor for KAEDC, to be completed within 12 months unless extended. The preferred investor must provide cash-backed funding for the first two years of a five-year capital expenditure program and bank guarantees covering at least three months of market invoices.

Joy Ogaji, CEO of the Association of Power Generation Companies, emphasized the need for clarity and transparency in the selection process, questioning the effectiveness of previous interventions in KAEDC's management.