President Bola Tinubu has approved the rebuilding of the Nigeria Electricity Liability Management Company’s (NELMCO) Board, with a change to the NELMCO Board structure.
According to presidential spokesman Ajuri Ngalale, this allows the Office of the Minister of Power to take over the Board Chairmanship from the Office of the Minister of Finance, given NELMCO’s critical position in the running of the Nigeria Electricity Supply Industry (NESI).
The reconstituted board is led by the Minister of Power, with the Minister of Finance serving as Vice-Chairman.
The board’s members include the Director-General of the Debt Management Office, the Director-General of the Bureau of Public Enterprises, and Mrs. Mojoyinoluwa Dekalu-Thomas, the Managing Director/CEO, who will serve an additional five years.
Others include Joseph Asuku Bello, NELMCO Executive Director of Asset Management, and Hassan Yahya, NELMCO Executive Director of Corporate Services.
Both will serve five-year terms, while Abdullahi Mahmud Gaya and Prof. (Mrs) Ayanfemi Ayandele will serve as Non-Executive Directors for three years apiece.
According to the presidential spokesman, in accordance with his Renewed Hope Agenda, President Tinubu expects the NELMCO Board’s new structure and composition to yield expeditious and measurable progress in the management of the power sector’s post-privatization liabilities, thereby creating conditions for the sustained attainment of world-class operational efficiency standards across all sub-components of the Nigeria Electricity Supply Industry.