Kaduna Electric Raises Revenue Remittance To 46%, Cuts Losses By 7% – MD

The managing director/CEO of Kaduna Electric, Dr. Umar Abubakar Hashidu has announced an increase in the company’s market remittance from 13 per cent to 46 per cent in the last six months.

Dr. Umar Hashidu made the pronouncement in Kaduna, yesterday while briefing the minister of Power, Adebayo Adelabu who was on a working visit to the state.

He disclosed that the Interim management under his leadership has also reduced the Aggregate Technical, Commercial and Collection (ATC&C) Losses of the company by seven per cent within the period under review, while at the same time improving the monthly revenue and Regulatory Compliance rating of the Company significantly.

The administrator and chief executive officer of Kaduna Electric who disclosed that the company is being repositioned to improve both the operational efficiency and commercial performance, said the biggest challenges facing the company now is vandalism and energy theft.

He acknowledged what he called “the wonderful support and cooperation” the management has been receiving from both the Board and other stakeholders.

In his response, the minister of Power, Adebayo Adelabu expressed satisfaction with the performance of the Interim Management and the Special of the Company since their inauguration.

“As a caretaker management, the Ministry is happy with your performance so far; we are honestly not disappointed”, he said.

The minister of Power also charged the Management of Kaduna Electric in particular and all the Distribution Companies as a whole to work assiduously to deliver affordable and sustainable power to Nigerians.

“The DISCOs are the foot soldiers of the sector; you must understand that the efforts of all the players in the sector will come to nothing if you fail to deliver sustainable power supply to the Nigerian populace”, he charged.

The minister also condemned the increasing cases of vandalism of power supply infrastructure and energy theft across the Country, warning that the Ministry of Power is working with the office of the National Security Adviser, Ministry of Interior and all security agencies to address the menace.