The Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, has lauded the establishment of the Nigerian Independent System Operator (NISO) as a transformative milestone in Nigeria’s power sector reform journey.
Speaking during the inauguration ceremony of the NISO Board yesterday in Abuja, Gbeleyi described the event as a “significant milestone in the ongoing reform of the country’s power sector,” noting that it aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the administration’s drive for “an efficient, reliable, and competitive electricity market.”
“NISO represents a pivotal landmark in Nigeria’s electricity industry reform journey,” Gbeleyi stated. “It serves as a crucial pillar in the Nigerian Electricity Supply Industry (NESI) by ensuring that the System Operator and Market Operator function independently and transparently, fostering efficiency and boosting investor confidence.”
Gbeleyi provided insight into the robust process that led to the formation of the NISO Board, guided by Section 30(5) of the Electricity Act 2023. This provision mandates the establishment of an Independent Board Nomination Committee (IBNC) composed of seasoned professionals.
“The Bureau sought and obtained the approval of the Vice President and Chairman of the National Council on Privatisation (NCP), for the constitution of the IBNC,” he explained. “Inaugurated on 1st August 2024, the committee led a transparent, competitive, and merit-based process to select board members.”
The IBNC, comprising respected industry figures such as former TCN Managing Director, Engr. Akinwunmi Bada, and former NBET MD, Mr. Rumundaka Wonodi, received over 500 applications following advertisements in national newspapers. Of these, 51 candidates were shortlisted and interviewed for various executive roles.
“For the non-executive positions, a restrictive selection method was adopted, based on merit-based criteria developed in collaboration with NERC,” Gbeleyi added. “The final nominees underwent NERC’s Fit and Proper Test and were further vetted in line with Federal Character and statutory diversity requirements.”
Gbeleyi expressed deep appreciation to President Bola Ahmed Tinubu and Vice President Kashim Shettima for their leadership and steadfast commitment to power sector reform.
“Permit me to express our most sincere appreciation to His Excellency, President Bola Ahmed Tinubu, GCFR, and His Excellency, the Vice President, for their unwavering commitment to the sustained reform of the power sector,” he said.
He also commended the Honourable Minister of Power, NERC, MOFI, TCN, generation and distribution companies, and private sector stakeholders for their collaboration in actualizing NISO’s establishment.
To the newly inaugurated board, Gbeleyi delivered a call to national service: “I congratulate you on your eminently deserved appointments and urge you to serve with diligence, integrity, and a deep sense of responsibility. The success of NISO will no doubt play a crucial role in shaping the future of Nigeria’s power sector.”
With the official inauguration of NISO’s leadership, stakeholders believe that Nigeria is set to enter a new era of improved grid operations, regulatory independence, and renewed investor confidence—key steps toward achieving sustainable and reliable electricity for all Nigerians.
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