Akinwumi Bada, the Interim Managing Director of Abuja Electricity Distribution Company (AEDC), has reportedly resigned, with Adeoye Fadeyibi, former Managing Director/CEO of Eko Electricity Distribution Company, taking over.
On Monday, a source in the Abuja DisCo revealed this.
According to the source, the official reason for Bada’s resignation is still unknown, but he confirmed it may be related to the company’s protracted core investor issues, which had eaten deep into the company’s fabrics.
“The appointment is a key step in positioning AEDC towards efficiency in customer service delivery and ensuring the effectiveness of the turnaround initiated by the company’s new management,” he said. We are confident that the new executives, with a combined industry experience of more than five decades, will be able to meet the aspirations of millions of our customers who seek seamless power services.”
He was also the first Managing Director of Transcorp Power Ltd in Ughelli, Delta State, where he increased the generating company’s capacity from 164MW to 634MW in just 25 months. He came to Transcorp Power from General Electric, where he held several strategic positions with responsibility for the Middle East and Africa.
Following the disengagement of the former AEDC managing Director, Ernest Mupwaya, and other top management officers, Bada was appointed in December 2021 to lead a five-member management team of the troubled AEDC for a five-month period.
