Connect with us

News

Future Energies Africa (FEA) Ltd. Owns Significant Stake In KEDCO, Says MD/CEO

Published

on

The attention of KEDCO has been drawn to publications in some major media publications regarding the status and ownership of KEDCO. The Management of Kano Electricity Distribution Company (KEDCO) has said the DisCo was not under the jurisdiction of any Bank or the Asset Management Corporation of Nigeria (AMCON).

In a statement issued by KEDCO’s Head of Corporate Communications, Sani Bala Sani, he refuted the reports that flooded the media space and claimed that KEDCO was one of the DisCos currently being managed by AMCON or the Banks, thus ordered for sale.

Sani further informed that, “Since November 2023, new investors – Future Energies Africa (FEA) Limited acquired control of 60 per cent shares of the DisCo, while the Federal Government retains 40%.

The Company’s spokesperson recalled that, In July 2022, KEDCO, alongside four other DisCos were restructured by the Federal Government and appointed an interim Board and Management to steer the affairs of the Company for transition to new investors, which was concluded and handed over to the current investors.

On the Company’s current performance metrics, Sani said the DisCo had improved significantly in its operational efficiency under the stewardship of the current MD/CEO, Abubakar Yusuf, and a crop of seasoned professionals on the Board of Directors led by Engr. Ibrahim Adamu Gumel, by creating a modernized electricity distribution system that has enhanced service delivery, a friendly customer atmosphere, and a reduction in ATC&C losses, within 6 months of the takeover.

#

KEDCO, under its current ownership, is committed to providing reliable, affordable, and sustainable electricity to Kano, Katsina, and Jigawa States and environs. Through innovative solutions and partnerships, the Company aims to lead the way in renewable energy adoption and sustainable development.

News

Explosion at Illegal Petroleum Depot Kills Five in Rivers State

Published

on

 

At least five people were killed on Saturday following a deadly explosion at a residential building used for the illegal storage of petroleum products in Ogba/Egbema/Ndoni Local Government Area (ONELGA) of Rivers State. The tragic incident has once again highlighted the severe risks associated with illegal refining activities.

The Youths and Environmental Advocacy Centre (YEAC-Nigeria) confirmed the explosion and subsequent fire at the site, where illegally refined petroleum products, including condensate, were being stored for resale. The blast occurred late in the morning around 11:00 AM, engulfing the building in flames and killing four women and one man, all burnt beyond.

#
Continue Reading

News

Political Parties Are Part of Nigeria’s Problems —Oby Ezekwesili

Published

on

 

Former Minister of Education, Oby Ezekwesili, has stated that the problem of Nigeria is political parties.

Her outburst comes following the incessant defection from other parties to the All Progressive Congress, APC.

Ezekwesili emphasized that Nigeria has a faulty foundation and defecting from one political party to another which she described as ‘acronymn’ won’t solve the problem.

Her words,”Can I tell you that political parties has been part of the problems of our elite failures because we really havent had political parties in Nigeria.

We have political platforms, God bless the spirit of someone who used exactly that name for me. They are platforms where individual interest are negotiated.

“We are yet to control the ideology of having real political parties driven by the sense of nation building.

“And then if I ask you again and you say your common identity is APC, I can well tell what will happen because what would happen is that a new set of operators wants to control.

“We have a faulty foundation. When you have a structural problem, you have to find structural solutions.

“Just merely changing acronyms and doing the migratory dance that happens between one set of acronyms and another set of acronyms does not solve the problem of the 50 something years of failure since our independence.”

#
Continue Reading

News

Jeddah Airport Handles 5.3 Million Passengers in a Few Weeks

Published

on

 

King Abdulaziz International Airport in Jeddah set a new record by handling over 5.3 million passengers during the five-week peak Umrah season, from March 1 to April 5 (Ramadan 1 to Shawwal 7).

According to Eng. Mazen Johar, CEO of Jeddah Airports Company, the airport successfully executed detailed operational plans that helped streamline Umrah procedures and significantly cut waiting times, accommodating the surge in pilgrim arrivals.

During this period, the airport managed 31,500 flights and processed approximately 6.4 million bags, marking a major achievement in its operational performance.

#

Continue Reading

Trending