By Adeola Ajakaiye, in Kano.
Power sector regulators, Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have approved the reconstitution of the board of directors of Kano Electricity Distribution Company Plc (KEDCO).
The approval followed the federal government’s restructuring of five electricity distribution companies (DisCos) as a result of a takeover of three of them by Fidelity Bank, one of which is KEDCO. This led to the dissolution of the KEDCO’s board of directors.
The company disclosed this in a statement made available to Business A.M. by Ibrahim Shawai, its chief communication officer.
Ahmed Dangana, a seasoned management consultant and a business turnaround specialist, was approved by NERC and BPE as the new managing director and chief executive officer of the company.
Dangana is expected to consolidate on the achievements of past management to improve operational efficiency and deliver long term value in the company by reducing Aggregate Technical, Commercial and Collection (ATC&C) losses and improving the company’s revenue base.
With over 16 years experience in managing diverse portfolios across multiple sectors of the economy including power, investment banking, public finance, oil and gas and agro-allied industry, he will bring on board his deep experience in business transformation to maximise value for all KEDCO stakeholders.
Prior to his appointment, Ahmed Dangana was a senior executive with Ernst and Young (EY), a multinational professional services firm providing consulting, assurance, tax and transactions services for clients in public and private sectors where he led the finance transformation team in West Africa with focus on corporate restructure, financial management and business transformation. In this role, he led various projects with governments, development finance institutions and corporate entities on key developmental initiatives.
Also, the regulators approved Hassan Tukur as the chairman of the board of directors. Other members of the board are, Nelson Ahaneku, Rabiu Suleiman, Amaechi C. Aloke and Bashir Gwandu.
Upon assumption of duty, the new managing director assured customers and all stakeholders of improved service delivery and electricity supply in the Kano franchise, especially after the completion of the ongoing capex projects on network expansion and maintenance.
The art of doing nothing: Nigeria & The World