President Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) with a modification which empowers the Office of the Minister of Power to take over the Board Chairmanship from the Office of the Minister of Finance.

This was contained in a statement issued by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, on Thursday, March 7, 2024.

Ngelale noted that the takeover of the company by the Minister of Power was over NELMCO’s central role in the operation of the Nigeria Electricity Supply Industry (NESI).

The Minister of Power, Adebayo Adelabu, was however appointed by President Bola as the NELMCO Board Chairman, while the Minister of Finance, Wale Edun, was named the NELMCO Board Vice-Chairman.

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Other members of the board include the Director-General of the Debt Management Office and the Director-General of Bureau of Public Enterprises.

Tinubu also appointed Mojoyinoluwa Dekalu-Thomas as NELMCO Managing Director/CEO (five-year term); Joseph Asuku Bello – NELMCO Executive Director, Asset Management (five-year term); Hassan Yahya – NELMCO Executive Director, Corporate Services (five-year term); Abdullahi Mahmud Gaya – Non-Executive Director (three-year term); and Prof. Ayanfemi Ayandele – Non-Executive Director (three-year term).

Ngelale added that Tinubu, in consonance with his Renewed Hope Agenda, anticipates that NELMCO Board’s new structure and composition will yield expeditious and measurable progress in the management of the power sector’s post-privatisation liabilities to create conditions for the sustainable attainment of world-class standards of operational efficiency across all sub-components of the NESI.

The Star