Despite the security situation in the northeastern parts of the country hounded by the dreaded Boko Haram insurgents, the Yola Electricity Distribution Company (YEDC) has continued to operate without significant downstime.
Thus, fears that the investors that staked funds in acquisition of the company during the privatization of government’s assets in the electric power sector might be considering pull out of the deal are unfounded.
Nigerian Electricity Regulatory Commission, NERC, declared that it has not received from the Bureau of Public Enterprise, BPE, any information indicating the withdrawal of Yola Electricity Distribution Company, YEDC, from the privatisation arrangement.
Commissioner, Legal, Licencing and Enforcement of NERC, Mr. Steven Andzenge, stated that the company still covers Yobe, Borno, Adamawa and Taraba for electricity distribution.
He told agency sources that YEDC was still carrying on with its operations in the states.
“As far as NERC is concerned, YEDC has not entered into any force majeure in its dealings with NERC as a regulatory institution,’’ he said.
He said that in spite of the security challenges in the north east region, the company was still operating in the region.
“Yola Distribution Company has not filed any force majeure with the commission,” he said.
“We admit that there were security challenges in the geo-political zone. The company has (not) been able to carry on business in some of its business centres in the region.”
He explained that the commission only got the information about the withdrawal of the investor through the newspapers.
“We have read in the papers in respect of the issue but we have yet to be advised by BPE as to what is the actual situation,” he said.