The Managing Director/CEO of Kaduna Electricity Distribution Company, Engr. Yusuf Usman Yahaya has called on investors to invest in the development of power supply infrastructure, maintaining that the Nigerian Electricity Supply Industry has immense potentials waiting to be tapped by willing investors.
Engr. Yusuf Usman Yahaya made the assertion in Kaduna today at the ongoing KADINVEST 7.0 Summit organized by Kaduna State Government.
Contributing to the discussion on the topic “Opportunities in Infrastructure Sector for Businesses”, the energy expert said the nation’s power sector is liberalizing and the Kaduna Electricity Distribution Company welcome investors and partners who wish to partner with the Company to improve power supply infrastructure and further increase access to electricity services in its franchise.
“We sought partnership and are still seeking partnership with Kaduna State Government as well as other States Governments in our franchise and shall welcome willing investors to partner with us in infrastructural development and revenue assurance. The sector has enough space for all the players and even more”, he said.
Engr. Yusuf Usman Yahaya also disclosed that Kaduna Electric has commenced the implementation of its multi-year Performance Improvement Plan approved by the Nigerian Electricity Regulatory Commission through replacement of old and obsolete equipment in its network as well as embarking on projects to extend the grid to unserviced locations and called on the business community to take advantage of the liberalized atmosphere.
“Our doors are opened to willing investors; we shall welcome partnership in areas such as inter-connected mini grid structure and in locations where we feel we don’t have the capacity to efficiently sustain the business, we can sub- franchise that segment of our franchise to investors”, he asserted.
On the wisdom behind the current Service Based Tariff regime, the Kaduna Electric helmsman stated that the commercial performance is the major determinant and subject to the commercial performance of each location, the Regulator approves the appropriate Tariff band for each location.
He therefore called on customers of the Company to adopt the culture of paying for the services rendered to them and refrain from bypassing or tampering with their energy meters.
He assured the customers of Kaduna Electric of the Company’s unwavering commitment to providing qualitative services in a more sustainable manner.
“Although the Company has not done as much as it would have loved to, but it has done greatly and we shall continue to consolidate on the gains recorded so far”, he averred.