AEDC: President Buhari Did not order the sack of Management – Presidency

The Presidency wishes to react to a news item making the rounds,  credited to the Minister of State for Power that President Muhammadu Buhari has ordered the sack and replacement of the management of the Abuja Electricity Distribution Company, AEDC.

This cannot be true. Since the privatization of the Power Sector in 2014, the management of the 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.