By Modupe Gbadeyanka
The majority equity stake in Kaduna Electric has been purchased by ASI Engineering Limited, which has promised to give priority to human capital development and upgrades of existing infrastructure in the coverage areas.
The engineering firm took control of Kaduna Electric after the approval of the Nigerian Electricity Regulatory Commission (NERC).
The regulator approved the acquisition of a 60 per cent stake in the electricity distribution (DisCo) by the new investor, which has promised to revitalise the organisation, which has been struggling with a huge debt burden.
ASI disclosed in a statement over the weekend that it was committed “to upholding the highest standards of corporate governance, environmental stewardship, and social responsibility as part of the acquisition agreement.”
The firm also promised to “prioritise investments in infrastructure upgrades, employee training and development, as well as community engagement initiatives to create lasting value for all stakeholders.”
ASI noted that the equity acquisition “marks a new dawn in the turnaround and repositioning of Kaduna Electric”, saying its entry into the country’s electricity market “is a testimony and demonstration of faith in the efficacy of the Renewed Hope Agenda of President Bola Tinubu.”
The company emphasised that, “Our collaborative approach will focus on modernising the electricity distribution network, implementing innovative solutions for energy management, and fostering greater customer satisfaction and engagement.”
Aduragbemi Omiyale 
Adedapo Adesanya