The Jigawa State Authorities has accepted the discharge of N1 billion for the acquisition of a ten per cent stake within the Kano Electrical energy Distribution Firm (KEDCO).
The federal government’s spokesperson, Sagir Ahmad, introduced this late Monday after the state Government Council Assembly presided over by Governor Umar Namadi.
He stated the council accepted the cost as a part of the MoU signed to accumulate 500,000 models of KEDCO shares, from Future Energies Africa Restricted, the core buyers within the energy distribution firm.
“The strategic partnership will allow Jigawa State Authorities to consolidate its earlier 7.5% shareholding to 10% within the firm.
“Equally, the MoU is aimed toward making certain satisfactory provision of fixed electrical energy provide to all tier 1 City Facilities and Rural electrification within the State by the yr 2028” Mr Ahmad stated.
He added that the initiative was According to the administration’s 12-Factors Agenda to supply satisfactory electrical energy provide to each city and rural areas to spice up financial actions throughout the state.
ALSO READ: KEDCO indicators $100 partnership deal to develop 100 megawatts of electrical energy
Future Energies Africa had in November 2023 accomplished the acquisition of KEDCO and emerged the brand new core investor after efficiently restraining the sale to PowerCom in July by way of authorized motion.
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The ability distribution firm has Kano, Katsina, and Jigawa states as its enterprise franchise areas.
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