- Removes chairmanship from Finance Minister
President Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) and has replaced the Minister of Finance, who before now served as the board chairman with the Minister of Power.
The reconstitution of NELMCO was made public via a statement issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale in Abuja on Thursday.
The statement read: “President Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) with a modification to the NELMCO Board structure, which empowers the Office of the Minister of Power to take over the Board Chairmanship from the Office of the Minister of Finance, in view of NELMCO’s central role in the operation of the Nigeria Electricity Supply Industry (NESI).
“Honourable Minister of Power, NELMCO Board Chairman, Honourable Minister of Finance, NELMCO Board Vice-Chairman, Director-General, Debt Management Office, Member, Director-General, Bureau of Public Enterprises, Member and Mrs. Mojoyinoluwa Dekalu-Thomas, as the Managing Director/CEO for a period of five years.
Others that will serve for five year term are, Mr. Joseph Asuku Bello, Executive Director, Asset Management, Mr. Hassan Yahya, Executive Director, Corporate Services, while Mr. Abdullahi Mahmud Gaya, Non-Executive Director and Prof. (Mrs) Ayanfemi Ayandele, Non-Executive Director, will serve three year term.
The statement further added, “In consonance with his Renewed Hope Agenda, President Tinubu anticipates that NELMCO Board’s new structure and composition will yield expeditious and measurable progress in the management of the power sector’s post-privatization liabilities to create conditions for the sustainable attainment of world-class standards of operational efficiency across all sub-components of the Nigeria Electricity Supply Industry (NESI).”