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

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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%.

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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.

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Rep. Abubakar Bichi Employs 100 New Islamic School Teachers in Bichi

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The Federal lawmaker representing the Bichi Federal Constituency, Hon. Abubakar Kabir Abubakar Bichi, has inaugurated 100 new Islamic school teachers as part of efforts to strengthen Islamic education in the Bichi Local Government Area of Kano State.

The inauguration ceremony was held on Sunday, 27 September 2026, and marked the fourth batch of School Teachers employed under the lawmaker’s initiative bringing the total of number of teachers engaged through the programme to 600.

Before their employment, the 100 teachers underwent a special examination conducted at the directive of the lawmaker. Those who obtained the highest scores across the 11 wards of Bichi Local Government Area were selected for the teaching positions.

The lawmaker had previously supported the teachers by paying their monthly allowances as volunteers before formally employing them as full-time teachers in Islamic schools across the local government area.

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Prominent Islamic scholars and dignitaries attended the inauguration ceremony, including Sheikh Habibu Dan Almajiri, Chairman of the Kano State Zakkah Commission; Dr. Nazifi Ishak, former Kano State Commissioner for Religious Affairs; Dr. Zahrau Muhammad Umar, former Commissioner for Women Affairs; and Sheikh Sanusi Sharif Bichi.

Also in attendance were the Chairman of Bichi Local Government Area, Alhaji Hamza Sule Maifata; the Director-General of the APC Campaign Council in Bichi, Alhaji Sani Mukaddas, and the Kano State APC Secretary, Prof. Yusuf Muhammad Sabo.

The Islamic scholars and other dignitaries commended Hon. Abubakar Kabir Abubakar Bichi for his efforts towards improving both Islamic and modern education in the Bichi Local Government Area.

Hon. Abubakar Kabir Abubakar has also previously engaged several youths in various sectors, including healthcare, environmental services, education and other community development activities, as part of his efforts to create opportunities for young people across Bichi Federal Constituency and Kano State.

The lawmaker, who serves as the Chairman of the House Committee on Appropriation, has consistently expressed his commitment to youth development and community empowerment through various initiatives across the constituency.

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FG Seeks Fresh $1.5bn World Bank Loans As Nigeria’s Debt Hits N166.79tn

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By Yusuf Danjuma Yunusa

The Federal Government is in discussions with the World Bank for three new loans worth a combined $1.5 billion, even as Nigeria’s total public debt climbed to a record N166.79 trillion by June 2026.

The proposed facilities consist of three $500 million loans targeting climate resilience, social protection and early childhood development.

The first is an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, which would increase its total financing to $1.2 billion. The funds are expected to support land restoration, flood and erosion control, irrigation, water management and other climate-resilience measures across northern Nigeria.

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Another $500 million facility is proposed for the Household Prosperity and Empowerment-Social Protection (HOPE-SP) project. It is designed to support poor and vulnerable households through cash transfers, an improved social registry and stronger social protection systems.

The third $500 million loan would finance the Nigeria Early Childhood Development programme, covering all 36 states and the Federal Capital Territory. The programme aims to improve access to healthcare, nutrition, early learning, childcare, water and sanitation for children aged zero to five.

Meanwhile, figures from the Debt Management Office show that Nigeria’s public debt increased by N14.39 trillion , from N152.40 trillion in June 2025 to N166.79 trillion in June 2026. Domestic debt stood at N91.59 trillion, while external debt was N75.20 trillion.

Nigeria’s debt to the World Bank Group also rose to $20.73 billion by June 2026, accounting for about 38 per cent of the country’s $54.52 billion external debt.

Economist Adewale Abimbola said concessional loans could support development if properly structured and effectively utilised, stressing that the key issue was how the borrowed funds were deployed.

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Report: Nigeria Records N166trn Public Debt

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‎By Yusuf Danjuma Yunusa
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‎The Debt Management Office (DMO) says Nigeria’s total public debt rose to N166.79 trillion as of June 30, 2026.
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‎The DMO published the latest public debt portfolio report on Friday.
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‎The figure represents a 9.4 percent or N14.39 trillion increase from the N152.4 trillion recorded at the end of June 2025.
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‎It also represents an increase of N7.44 trillion or 4.7 percent compared with the N159.35 trillion recorded at the end of the first quarter (Q1) of 2026.
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‎According to the latest report, the debt stock comprises N91.59 trillion in domestic debt, which accounts for 54.91 percent of the total debt stock, and N75.2 trillion in external debt, representing 45.09 percent.
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‎The debt office said domestic debt increased by N11.04 trillion (13.7 percent) from N80.55 trillion recorded in June 2025.
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‎The office said external debt also rose by N3.35 trillion (4.7 percent) from N71.85 trillion in the same period.
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‎According to the DMO, the federal government accounted for N152.77 trillion of the total debt stock, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt.
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‎On the other hand, states and the Federal Capital Territory (FCT) accounted for the remaining N14.01 trillion — N4.59 trillion in domestic debt and N9.42 trillion in external debt.
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‎In dollar terms, the agency said Nigeria’s total public debt stood at $120.93 billion as of June 30, 2026 — up from $99.66 billion recorded in June 2025.
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‎The DMO said the Central Bank of Nigeria (CBN) official exchange rate of N1,379 per dollar as of June 30 was used to convert the external debt to naira.
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