Nigeria Newspapers

Tinubu reconstitutes electricity liability management company’s board

7001efef president bola tinubu

President Bola Tinubu has approved the reconstitution of the board of the Nigeria Electricity Liability Management Company.

He also modified 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, given NELMCO’s central role in the operation of the Nigeria Electricity Supply Industry.

A statement signed by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, revealed the changes Thursday night.

The statement titled, ‘President Tinubu approves reconstitution of NELMCO board and amended structure,’ noted that the membership includes the Minister of Power, Mr Adebayo Adelabu, as NELMCO Board Chairman and the Minister of Finance, Wale Edun, as Vice-Chairman.

The Director-General of the Debt Management Office, Patience Oniha, would serve as a board member alongside her counterpart at the Bureau of Public Enterprises.

Tinubu also approved the appointment of Mrs. Mojoyinoluwa Dekalu-Thomas as NELMCO Managing Director/CEO, Mr. Joseph Bello as Executive Director, Asset Management, and Mr. Hassan Yahya as Executive Director, Corporate Services, all for a five-year term each.

Meanwhile, Mr. Abdullahi Gaya and Prof. (Mrs.) Ayanfemi Ayandele will serve as non-executive director for a three-year term each.

Tinubu expects that the 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,” the statement read.