The Presidency Wednesday said contrary to reports, President Muhammadu Buhari did not order the sack of the management of Abuja Electricity Distribution Company (AEDC).   

A statement issued by Garba Shehu, Senior Special Assistant to the President (Media & Publicity) said the news credited to the Minister of State for Power that President Buhari has ordered the sack and replacement of the management is not true. 

It said: “This cannot be true. Since the privatization of the Power Sector in 2013, the management of the successor companies has reverted to the new owners.

“It is, therefore, totally out of place and inconceivable that the President would be linked to the management of a private organization, let alone sacking it.

“It is gladdening to note that the minister quoted in the statement has himself distanced himself from it.

“The Presidency, therefore, wishes to state expressly and reassure investors in the economy that President Buhari did not order the sack of the management of AEDC, neither does he intend to interfere in the running of the affairs of private business entities.

“The Presidency, however, welcomes ongoing discussions with relevant stakeholders to resolve the issues surrounding the recent developments in the company.”

rayvelez:
Which one we go believe now

daddytime:
Regime of somersaults, denials and counter-denials.

No cohesion or policy direction.

vedaxcool:
Let's remember that it is under the "competent" PDthieves regime that idiots were given various post companies they lack the technical know-how and finances to manage.

The treacherous decision still bites us ceaselessly. Imagine all the fraudulent charges and government subsidy yet the ingrates cannot pay workers their entitlements. They cannot buy meters to improve efficiency... FG demanded audit of their finances they rushed this court and got an injunction to stop it...

Nemere2020:


https://tribuneonlineng.com/buhari-did-not-order-aedc-management-sack-presidency/?utm_source=&utm_medium=twitter
Lalasticlala
Mynd44

Nemere2020:


https://tribuneonlineng.com/buhari-did-not-order-aedc-management-sack-presidency/?utm_source=&utm_medium=twitter
Lalasticlala
Mynd44

Is like Buhari is afraid of the AEDC management

President with low self-esteem!

vedaxcool:
Let's remember that it is under the "competent" PDthieves regime that idiots were given various post companies they lack the technical know-how and finances to manage.

The treacherous decision still bites us ceaselessly. Imagine all the fraudulent charges and government subsidy yet the ingrates cannot pay workers their entitlements. They cannot buy meters to improve efficiency... FG demanded audit of their finances they rushed this court and got an injunction to stop it...

Agbegbaorogboye:

So what has your APC done to salvage the situation for the past six years? Just blame and excuses for failure.
Tell us about the Siemens power deal.

naptu2:
60% of AEDC was owned by KANN Consortium, which took a loan from UBA to finance the purchase. 40% of AEDC is owned by government. KANN couldn't repay the loan and UBA took over its shares and sacked and replaced the management of the company.

(I suspect that the dispute between KAAN and UBA might have been the reason that AEDC could not pay its staff).

NERC, as the regulators of the sector and BPE (representing government's 40% shares) approved UBA's take over of AEDC.

rexwalters:
Only mumus believed the accusation in the first instance.

rexwalters:
Meanwhile Daddytime & Esnbrutality have already started the wailing full force?

iwaeda:


You have never posted any information you really understood.

Fyi. 40% shareholding is a majority stake in AEDC

thebosstrevor1.

Hope you see denial now.
Learn to be literate and stop defending blindly

Who now ordered the sack of AEDC management since Minister and presidency have both denied?