The Nigerian Electricity Regulatory Commission has dissolved the board of Kaduna Electricity Distribution Plc and removed its core investor, ASI Engineering Limited, due to a 456 billion naira debt burden and severe operational failure. The regulator has appointed a seven-member interim board to oversee the utility for an initial six-month period, while current managing director Abubakar Umar Hashidu remains as administrator. Afreximbank will lead a competitive process to identify a new core investor within 12 months. The intervention aims to safeguard electricity distribution services and mitigate systemic risk to the national market, following the utility’s failure to meet performance conditions and financial obligations.