Tue. Jul 23rd, 2024

Nigeria: Amid N110bn Debt, Kaduna Electric DisCo Announce Staff Salary Increment

By Sunday Elijah

The Kaduna Electricity Distribution Company (KEDC) says it is increasing the salaries of its workers by 10 percent.

The announcement came amidst challenges facing the company including a debt of N110bn.

In January, the Nigerian Electricity Regulatory Commission dissolved the board of directors of Kaduna Electric over its inability to pay N110bn debt it owes the Nigeria Electricity Supply Industry. It went on to appoint Umar Hashidu as the administrator in line with Section 75 of the Electricity Act.

A statement by KEDC on Wednesday says, Hashidu announced at a meeting that the 10 per cent salary increase for all staff categories will be introduced, effective this month.

“The salary adjustment comes as a strategic response to the imperative of motivating the staff, aimed at elevating the company’s overall performance despite the considerable challenges it currently faces.

“Dr Hashidu underscored that the decision also addresses the prevalent cost of living crisis in the country,” the statement read partly.

 Hashidu emphasised the board and management’s conviction that the salary increment “will serve as a catalyst, inspiring staff to redouble their efforts to navigate the company through its current challenges”.

 The statement read further, “Dr Hashidu acknowledged the precarious state of the Nigerian Electricity Supply Industry, describing it as being on life support.

 “Notably, Kaduna Electric faces challenges in meeting market obligations and has shown a lacklustre performance in compliance with NERC performance indices.

 “Despite these challenges, Dr Hashidu expressed confidence that the issues confronting Kaduna Electric are surmountable with collective efforts.”

He urged all staff members to diligently approach their duties, citing the positive growth trajectory observed in energy sales during January as a promising indicator.

 The PUNCH reports that earlier before the dissolution of the company’s board, the former MD, Yusuf Yahaya, had announced his resignation from the company.

 The statement read further, “Dr Hashidu acknowledged the precarious state of the Nigerian Electricity Supply Industry, describing it as being on life support.

“Notably, Kaduna Electric faces challenges in meeting market obligations and has shown a lacklustre performance in compliance with NERC performance indices.

“Despite these challenges, Dr Hashidu expressed confidence that the issues confronting Kaduna Electric are surmountable with collective efforts.”

He urged all staff members to diligently approach their duties, citing the positive growth trajectory observed in energy sales during January as a promising indicator.

Before the dissolution of the company’s board, the former Managing Director, Yusuf Yahaya, announced his resignation from the company.

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