President Bola Tinubu has given the green light for the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO), in a move aimed at enhancing the management of the country’s power sector.

In a statement released by presidential spokesperson Ajuri Ngelale, it was revealed that the President has approved a restructuring of the NELMCO Board, with a key modification being the transfer of the Board Chairmanship from the Office of the Minister of Finance to the Office of the Minister of Power. This change reflects the pivotal role NELMCO plays in the operation of the Nigeria Electricity Supply Industry (NESI).

The new structure of the NELMCO Board is as follows:
– Honourable Minister of Power as NELMCO Board Chairman
– Honourable Minister of Finance as NELMCO Board Vice-Chairman
– Director-General, Debt Management Office as Member
– Director-General, Bureau of Public Enterprises as Member
– Mrs. Mojoyinoluwa Dekalu-Thomas as NELMCO Managing Director/CEO (five-year term)
– Mr. Joseph Asuku Bello as NELMCO Executive Director, Asset Management (five-year term)
– Mr. Hassan Yahya as NELMCO Executive Director, Corporate Services (five-year term)
– Mr. Abdullahi Mahmud Gaya as Non-Executive Director (three-year term)
– Prof. (Mrs) Ayanfemi Ayandele as Non-Executive Director (three-year term)

President Tinubu is optimistic that the revamped structure and composition of the NELMCO Board will lead to swift and tangible progress in addressing the post-privatization liabilities of the power sector. The ultimate goal is to establish a foundation for achieving world-class standards of operational efficiency across all facets of NESI.

By implementing these changes, the Nigerian government aims to create conditions conducive to sustainable growth and development in the power sector, paving the way for a brighter energy future for the nation.