Politics
PRESIDENT Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) with a modification of its Board structure.
The modification 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).
The board chairman of NELMCO is minister of power; minister of finance, vice-chairman while members are director-general, Debt Management Office; director-general, Bureau of Public Enterprises, Magnolia Dekalu-Thomas, NELMCO managing director (five-year term); Joseph Asuku Bello, executive director, Asset Management (five-year term), and Hassan Yahya, executive director, Corporate Services (five-year term).
The non- executive directors are Abdullahi Mahmud Gaya and Ayanfemi Ayandele, each for a tenure of three-year term.
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).
Tags: NELMCO NESI President Bola Tinubu
