Kaduna Electric has reacted to the 60-day ultimatum given to it by the Nigerian Electricity Regulatory Commission (NERC) to repay its N93.42bn debt or lose its Electricity Distribution License (EDL).
This is contained in a statement titled “Our Position On The Notice By NERC” which was signed by the management of Kaduna Electric on Tuesday.
The reaction reads: “Kaduna Electric acknowledges the 60-day Notice of Intention to Cancel its Electricity Distribution License by the Nigerian Electricity Regulatory Commission.
“The notice, in line with the regulatory power of the Commission, is coming on the heels of an initial engagement between the Commission and Shareholders/lenders to Kaduna Electric-in-Receivership in sustaining the mutual objectives of the Federal Government for an intervention in a number of Electricity Distribution Companies including Kaduna Electric for a turnaround of the DisCos and sale of core interests to new investors.
“While the Board and Management have continued to work on the intervention objectives, challenges remain, and stakeholders continue to engage in addressing them.
“We assure our customers of ongoing engagements between the Commission and shareholders including the Bureau of Public Enterprises and Lenders as to address the long-running and current issues at Kaduna Electric.
“We will continue to provide electricity in our Franchise Area – Kaduna, Kebbi, Sokoto and Zamfara States – with the utmost sense of duty and professionalism,” it said.
