Tinubu Approves Reconstitution Of NELMCO Board, Amended Structure

President Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) with a modification to the NELMCO Board structure,.

According to a statement by presidential spokesman, Ajuri Ngalale, this 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 reconstituted board has the Minister of Power as the NELMCO Board Chairman and the Minister of Finance as Board Vice-Chairman.

Members of the board include the Director-General, Debt Management Office; Director-General, Bureau of Public Enterprises and Mrs. Mojoyinoluwa Dekalu-Thomas, the Managing Director/CEO of who will serve another five-year term.

Others are Joseph Asuku Bello as NELMCO Executive Director, Asset Management and Hassan Yahya — NELMCO Executive Director, Corporate Services.

Both will serve a five-year term each while Abdullahi Mahmud Gaya and Prof. (Mrs) Ayanfemi Ayandele will both serve as Non-Executive Directors on a three-year term respectively.

The presidential spokesman said 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).