Kaduna Electric’s MD resigns

The Managing Director (MD) of Kaduna Electric, Mr Yusuf Usman Yahaya, has tendered his resignation to the company. Sources who disclosed the development to Daily Trust Saturday confirmed that an internal memo addressed to his colleagues, indicated his decision to move out from the company.

Yahaya assumed the role of MD 18 months ago during a critical period for Kaduna Electric. His appointment coincided with an intervention by stakeholders, including the Nigerian Electricity Regulatory Commission (NERC), the Central Bank of Nigeria (CBN) and lenders such as the African ExportImport Bank and Fidelity Bank.

Daily Trust Saturday’s findings showed that the intervention, originally intended for six months, was extended due to unforeseen challenges and persistently difficult circumstances.

Yahaya’s memo reads in part: “In the midst of very limited investments, daunting environmental, socio-economic challenges, we accomplished so much and there is much more to be done as the turnaround effort is underway.”

He expressed gratitude to his colleagues for their time and collaborative efforts.

Confirming the development to our reporter, spokesperson of Kaduna Electric, Abdulazeez Abdullahi, said, “Yahaya has stepped down as the MD/CEO of Kaduna Electric. As you may recall, he was appointed by the BPE back in May, 2022, on an interim basis pending the conclusion of the sale of the company to new core investors. Kaduna Electric thanks him for his contributions to the company and wishes him well in his future endeavours.”

Other sources within the company revealed to our correspondent that Dr Umar Hashidu, a former MD of the North East Development Commission (NEDC) and former MD of Yola DisCo would assume the position.