Adaobi Rhema Oguejiofor
Some Investors led by Transcorp Power Limited have acquired a 60 percent share in the Abuja Electricity Distribution Company (AEDC).
This was revealed in a statement released by the Company, where it was disclosed that Christopher Ezeafulukwe, the current Managing Director (MD) and Chief Executive Officer (CEO) of Transcorp Power Limited, will now become the MD and CEO of AEDC.
According to the statement, Ezeafulukwe’s appointment is expected to be instrumental in revitalizing AEDC, which is the primary power provider for the Federal Capital Territory (FCT) Abuja.
“Under the leadership of Ezeafulukwe,
Transcorp Power has consistently led the Nigerian power sector, being the first successor power company from the 2013 power privatization program, to be discharged from post-privatization monitoring by the National Council on Privatization, having surpassed the expectations of the Council.
“The Ughelli Power plant, which Transcorp Group acquired during the privatization of the power sector in 2013, demonstrates the Group’s transformative prowess. The plant’s available capacity, which stood at 160 megawatts (MW) on the acquisition, increased by 227 percent to 680.83MW in 4 years, surpassing the Bureau of Public Enterprise’s (BPE) five-year target of 670MW,” the statement read in part.
It was also revealed that the CEO of Transcorp Energy, Peter Ikenga, is expected to succeed Ezeafulukwe as MD of Transcorp Power.