Our Transformation for Kaduna Electric is based on Technology and Change management.

ASI Engineering Limited (ASI) is pleased to announce the successful acquisition of a 60%
equity stake in Kaduna Electricity Company Plc (Kaduna Electric), a prominent distribution
company in Northern Nigeria. This acquisition marks a significant milestone for ASI
Engineering Limited as it continues to expand our global footprint and contribute to the
development of critical infrastructure in emerging markets.

The acquisition of Kaduna Electric aligns perfectly with our strategic vision to enhance energy access, reliability, and efficiency in Nigeria. Kaduna Electric serves as a vital lifeline for residents, businesses, and industries in the franchise states (Kaduna, Zamfara, Sokoto, and Kebbi) and we are committed to leveraging our expertise, resources, and technology to
optimize its operations and service delivery.

ASI is collaborating with stakeholders, especially the state governments within its franchise
licence area, to create sustainable solutions that align with the region’s unique needs.
These unique collaborations will attract the needed investments to upgrade and turn around
electricity distribution in the Kaduna Electric franchise area. ASI’s vision is to make Kaduna
Electric a national leader in electricity distribution, driving sustainable development and
enhancing the quality of life through innovative and reliable solutions.

Our collaborative approach will focus on modernizing the electricity distribution network,
implementing innovative solutions for energy management, and fostering greater customer
satisfaction and engagement.

The acquisition of 60% equity of Kaduna Electric, which NERC has approved, marks a new
dawn in the turnaround and repositioning of Kaduna Electric. ASI Engineering Limited’s entry
into the Nigerian Electricity Market currently is a testimony and demonstration of faith in the
efficacy of the renewed hope agenda of His Excellency President Bola Ahmed Tinubu.
ASI Engineering Limited is bringing new dynamic leadership to Kaduna Electric through a
newly invigorated board and management with vast experience in utility turnaround. We want to thank the Nigerian Electricity Regulatory Commission (NERC), the Bureau of Public
Enterprises (BPE), the interim board and the Administrator of Kaduna Electric for their work
so far at Kaduna Electricity distribution company.

As part of the acquisition agreement, ASI is committed to upholding the highest standards of
corporate governance, environmental stewardship, and social responsibility. We will prioritize
investments in infrastructure upgrades, employee training and development, as well as
community engagement initiatives to create lasting value for all stakeholders.

For media inquiries, please contact: info@asiengineeringlimited.ng