Yusuf Yahaya, the managing director and the chief executive officer of Kaduna Electric, has resigned from the company.
Abdulazeez Abdullahi, the company’s Head of Corporate Communications, disclosed this in a statement.
“Kaduna Electricity Distribution Company (Kaduna Electric) hereby announces the resignation of Yusuf Usman Yahaya as Managing Director/Chief Executive Officer of the Company,” the company said.
It said Mr Yahaya was appointed in July 2022 in furtherance of concerted efforts by stakeholders Nigerian Electricity Regulatory Commission, Bureau of Public Enterprises, Central Bank of Nigeria, African Export-Import Bank and Fidelity Bank for intervention in Kaduna Electric alongside selected electricity distribution companies in Nigeria.
Since his appointment, the statement noted that Mr Yahaya has led and executed a decisive turnaround programme to effect critical people and organizational reform, accomplish commercial growth, and enhance service delivery to our customers aided by extended investments in network and energy management infrastructure.
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“Kaduna Electric wishes to convey its gratitude to Engr Usman Yahaya for his leadership and management in initiating much-needed corporate turnaround of the company and extends our best wishes in his next endeavours,” it said.
In his farewell message to the company on Friday, Mr Yahaya said he was moving from the company as others carry on the pending task of the sale of core investor interests.
“I am moving on from Kaduna Electric. When I was appointed about 18 months ago, it was at a time of critical lows at the company and in response to which stakeholders Nigerian Electricity Regulatory Commission (NERC), Central Bank of Nigeria (CBN), and Lenders African Export-Import Bank and Fidelity Bank had stepped in as part of an intervention across multiple Electricity Distribution Companies including Kaduna Electric,” Mr Yahaya said.
“The intervention was intended for six months and we have stayed for much longer given unforeseen challenges around the intervention objectives and very difficult persistent circumstances.
“In the time since then, we have taken on the challenges by addressing corporate reform and turnaround spanning infrastructure revamp across our network in Kaduna, Kebbi, Sokoto and Zamfara States, enhancing commercial performance, improving the balance sheet of the company and delivering improved services to our customers.
“In the course of these, we also sought to enhance the terms and working conditions of our most prized asset employees.”
Amid very limited investments and daunting environmental socio-economic challenges, he said the company accomplished so much and there is much more to be done as the turnaround effort is underway.
“As my tenure has come to an end at Kaduna Electric, I am moving from the company as stakeholders carry on the pending task of the sale of core investor interests in aid of the steady ownership and critical investments that are desperately needed. I thank you all for our time and work together,” he said.
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