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Abuja Electricity Distribution Plc Evolves into Holding Company Structure to Align with Decentralized Regulatory Framework – Announces Strategic Appointments

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Abuja Electricity Distribution Plc (AEDC) has announced its transition into a Holding Company (HOLDCO) structure, a strategic move designed to strengthen the company’s ability to operate effectively within Nigeria’s evolving electricity market and newly decentralized regulatory environment.

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This move follows the enactment of the Electricity Act of 2023, empowering State Governments to establish independent electricity markets and regulatory commissions.

In response to this regulatory shift, AEDC has realigned its corporate structure to enhance operational agility, improve governance, and support efficient service delivery across its franchise areas.

As part of this transformation, AEDC has incorporated two new subsidiary companies; the Niger Electricity Distribution Company and the Kogi Electricity Distribution Company. These entities will operate under the Niger State Electricity Regulatory Commission (NSERC) and the Kogi State Electricity Regulatory Commission (KSERC), respectively, while remaining integral members of the AEDC Group.

Key executive appointments have been made, including Engr. Sam Odekina as Chief Business Officer and Acting Managing Director of Niger Electricity Distribution Company, and Mr. Desmond Eboh as Chief Business Officer and Acting Managing Director of Kogi Electricity Distribution Company. Plans are underway to commence operations in Nasarawa State, with the transition process expected to begin soon.

AEDC’s Managing Director/CEO, Engr. Chijioke Okwuokenye stated that the HOLDCO structure positions the company to respond to state-specific regulatory requirements while preserving the Group’s unified identity, shared values, and commitment to operational excellence and customer service. All subsidiaries will operate as one integrated AEDC family, with uniform Conditions of Service for employees, ensuring workforce stability and fairness.

“The Holdco structure aligns perfectly with our goal to enhance operational efficiency and adapt to Nigeria’s evolving energy landscape while exploring new opportunities , drive growth and contribute to Nigeria’s energy sector development,” Chijioke said.

We are committed to maintaining our high standards of service, innovation and customer focus, even as we evolve into a new structure,” he further said.

AEDC reaffirms its commitment to supporting sustainable, state-regulated electricity markets and setting benchmarks for efficiency, reliability, and customer experience. The company serves the Federal Capital Territory and parts of Niger, Kogi, and Nasarawa States, and remains dedicated to powering economic growth and improving quality of life.

AEDC reaffirmed its commitment to supporting the development of sustainable, state-regulated electricity markets and to setting a benchmark for efficiency, reliability, and customer experience across its operations.

AEDC further noted that the recently executed Conditions of Service apply uniformly to all employees across the parent company and its subsidiaries, underscoring the Group’s commitment to workforce stability, fairness, and alignment during the transition.

Abuja Electricity Distribution Plc distributes electricity to the Federal Capital Territory and parts of Niger, Kogi, and Nasarawa States, serving residential, commercial, and industrial customers, and remains committed to powering economic growth and improving quality of life across its franchise areas.

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Theparkpay Technologies Limited Strengthens Global Payments Infrastructure with UK FCA Licence

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Theparkpay

Theparkpay UK FCA licence strengthens the fintech’s global payments infrastructure as it expands regulated cross-border services across key markets (more…)

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Wale Tinubu Says Nigeria’s Creativity Can Drive Exports

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Wale Tinubu

Wale Tinubu says Nigeria’s creativity can become a major export industry, creating jobs, attracting foreign exchange and building sustainable businesses (more…)

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TotalEnergies, AMNI Approve $800m Ima Gas Project

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TotalEnergies and Nigerian independent energy company AMNI International have taken the Final Investment Decision on the $800 million Ima Gas Project, more than five decades after the gas field was discovered.

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The Ima Gas Project, located in shallow waters across Oil Mining Leases 112 and 117 near Bonny Island, Rivers State, is expected to begin production in 2028 and reach a plateau of 350 million cubic feet of gas per day.

The development is expected to play a major role in supplying feed gas to Nigeria LNG, with the Ima field projected to provide about one-third of the additional gas required for the ongoing Train 7 expansion.

Train 7 is expected to increase Nigeria LNG’s liquefaction capacity from 22 million tonnes per annum to 30 million tonnes per annum, strengthening Nigeria’s capacity to process and export liquefied natural gas.

The Ima field was discovered in 1973 but remained undeveloped for more than 50 years. The Final Investment Decision provides the commercial and financial basis for finally developing the long-dormant resource.

Under the development plan, TotalEnergies will operate the project with a 40 per cent interest, while AMNI will hold the remaining 60 per cent.

The field will be developed using a single offshore platform connected to Nigeria LNG’s facility on Bonny Island through a 22-kilometre pipeline.

TotalEnergies said its investment in the project is more than $600 million, while the Federal Government described the overall Final Investment Decision as an $800 million investment.

At the FID signing ceremony in Abuja, TotalEnergies Exploration and Production Nigeria Managing Director, Mathieu Bouyer, described the decision as the culmination of a development process that had stretched across several decades.

He said the project reflected increased confidence in Nigeria’s investment environment and highlighted reforms targeting the non-associated gas sector as part of the factors that helped make the development commercially viable.

President Bola Tinubu welcomed the investment, saying the project demonstrated the potential of reforms introduced to reduce the cost and time required to develop oil and gas projects.

The President said the government had introduced incentives aimed specifically at unlocking onshore and shallow-water gas projects that had remained undeveloped for years.

He said the Ima development would create opportunities for Nigerian businesses, engineers, technicians and contractors, while generating jobs, economic activity in host communities and additional export earnings.

The project is also expected to have a strong Nigerian content component. TotalEnergies said all key contractors for the development would be Nigerian companies, while about 60 per cent of the workforce during the development phase is expected to come from host communities.

The development will incorporate measures aimed at reducing emissions. TotalEnergies said the platform would receive electricity from shore, operate without routine flaring and use permanent methane detection and monitoring systems.

The Federal Government said the project is part of efforts to turn Nigeria’s large natural gas reserves into productive assets capable of supporting industrialisation, energy supply, jobs and export earnings.

Special Adviser to the President on Energy, Olu Verheijen, said the Ima development illustrated the importance of creating commercial and investment conditions that allow previously stranded resources to be developed.

The government also noted that Nigerian financial institutions arranged 77 per cent of the project’s financing, further highlighting the participation of domestic financial institutions in the development.

For Nigeria LNG, the project comes as the company continues work on the Train 7 expansion, which is designed to increase the Bonny Island plant’s liquefaction capacity and strengthen the country’s position in the global LNG market.

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