Monday, 24 April 2017

Safety first and always

Kaduna Electric holds AGM, promises improved services

Kaduna Electric has held its maiden Annual  General Meeting (AGM) with a promise to double its efforts in delivering efficient power to its customers despite the harsh economic challenges in the country.

The Chairman of the Company, Alhaji Yusuf Hamisu Abubakar, 00N who briefed shareholders identified certain macro-economic, regulatory and operational constraints that hindered the performance of the company during the period under review.

 According him, the country "is in the midst of macro-economic head winds; oil prices fell from over $108.40 per barrel in May 2014 to $52.85 per barrel in April 2017, resulting in severe downward pressure on the naira as the naira devaluated from about N220 to over N400 against the US dollar at the parallel market over the same period. In addition to this, Nigeria continues to have one of the highest rate of inflation with a year on year increase in the price of goods and services of 18.72% as at January 2017, a metric which Kaduna Electric must bear without a transfer of a burden to customers as a result of the regulated pricing in the form of tariff".

 Other challenges faced by the company since taking  over as enumerated by the Board's Chairman includes unfulfilled promises made to prospective investors during the bidding process, regulatory interference, non-cost reflective tariff, MDAs debt, capital expenditure limits, low electricity generation, failure of NERC to implement subsidy through the administration of Power Consumer Assistance Fund, non-availability of low interest credit facilities and frequent government intervention in the electricity market.

 Despite the numerous challenges, the Company, Alh Yusuf Hamisu Abubakar announced, is being re-positioned for improved performance. He enumerated some of the achievements recorded by Kaduna Electric during the period under review to include the stabilization of the distribution network operations, increasing the distribution capacity by over 1500MVA, supply and installation of 25,000 smart meters and expansion of the network to underserved areas in the Company's franchise area.

 The Managing Director/Chief Executive Officer, Engineer Garba Haruna in his speech, assured the shareholders that, in spite of the regulatory, network disruption and liquidity risks which the Company has to contend with, Kaduna Electric has commenced the mapping of the 33KV, 11KV and the LT networks which has so far yielded positive result.

 According to him, the networks mapping has "provided clarity of the actual company's network, while also increasing customers' population from less than 300,000 to about 435,000 presently in the system. At conclusion of the programme in2017, we hope to achieve customers' enumeration and capturing of about 750,000 while making consistent growth to about 1,000,000 by 2018".

 The Company had earlier received a clean bill of health from the External Auditors, Messrs. Ahmed Zakari & Co. In the Independent Auditors Report presented at the AGM and signed by Mr. Najib Imam for Ahmed Zakari & Co., the audit firm affirmed that they have audited the accounts of Kaduna Electric and found same to be in full compliance with all financial reporting standards.

 The first Annual General Meeting (AGM) to be held by the Company had in attendance all the shareholders and the representative of the Federal Government. The meeting considered and unanimously re-elected the six non-Executive Directors and reconstituted the Audit Committee for the Company.

Friday, 21 April 2017

Chairman Kaduna Electric Condoles Chanchangi Family

The Chairman, Board of Directors of Kaduna Electric, Barrister Yusuf Hamisu Abubakar has condoled the family of Alhaji Ahmadu Chanchangi, a Kaduna based business mogul, over the death of the patriarch of the family.
A condolence letter personally signed by the electricity boss and addressed to the eldest son of the late Octogenarian, Honourable Rufa’i Ahmadu Chanchangi who is also a member of the Federal House of Representative representing Kaduna South Federal Constituency, he described Late Ahmadu Chanchangi as “a father, mentor and one of Nigeria’s outstanding personality of the 21st centuary”.
Alhaji Yusuf Hamisu Abubakar paid tribute to the late Chanchangi for using substantial part of his wealth to advance the welfare of the less privileged people in particular and humanity in general.
According to him, “the selfless, compassionate and philanthropic services of late
Alhaji Ahmadu Chanchangi to humanity as demonstrated in his uncommon contributions to the social and educational advancement of the society, provision of needed infrastructures to many communities and endless support to the common people shall remain indelible in our minds till eternity”.
He, on behalf of the Board of Directors, Management and the Staff of Kaduna Electric, the operator of the Kaduna Electricity Distribution Company, prayed to Almighty Allah to grant the deceased eternal peace, forgive his shortcomings and reward his good deeds with Aljanna, ameen.
Meanwhile, the Chairman yesterday led other members of the Company’s Board to pay condolence visit to the family house of late Ahmadu Chanchangi at Tudun Wada Kaduna, where they were received by the younger brother of the late patriarch of the chanchangi family, Alhaji Nadabo Chanchangi

Monday, 10 April 2017

UDUS Commends Kaduna Electric over new transformer

The Vice Chancellor, Usmanu Danfodiyo University, Sokoto, Prof. Abdullahi Abdu Zuru,
has commended the Management of Kaduna Electric over the installation of a new 7.5MVA  power transformer at the University barely two weeks after a fire outbreak at the permanent site of the University destroyed the 6.0MVA Transformer serving the institution.
The commendation was contained in letter sent to the Chief Engineering and Technical Services of the Company, Engineer Bello A Musa by the Vice Chancellor.
According to Professor Abdullahi Zuru, “I write to acknowledge receipt of your email on the Installation of 7.5MVA 33/11KV Transformer at the Power House of our University; following the fire outbreak that destroyed our 6.0MVA Transformer. I want to express our profound gratitude to you and your Company for the dispatch with which you responded to our cry for assistance. That the new Transformer is already on ground and is being installed is indeed very remarkable and beyond our expectation. The commitment of your staff who are handling the job on ground is commendable”.
It will be recalled, an early morning inferno at the Usmanu Danfodio University power house on 23rd March, 2016 destroyed the 6.0MVA 33/11KV power Transformer at the University. Our correspondent learnt that the University was sent into wild celebration when the news of the arrival of the new transformer filtered. Some members of the University Community interviewed also expressed joy over the swift response of the Electricity Distribution Company.
The Chief Engineering and Technical Services Officer of the Electricity Distribution Company, Engineer Bello Musa revealed that the replacement of the transformer and other accessories cost the Company over 70 million naira.