In a significant move aimed at enhancing the operational efficiency of the Nigeria Electricity Supply Industry (NESI), President Bola Tinubu has given his nod for the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO).
The reconstitution comes with a notable modification to the NELMCO Board structure, signifying a strategic shift in governance. Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity, made this announcement on March 7, 2024, expressing confidence in the transformative potential of the revamped NELMCO Board.
Under the new arrangement, the Office of the Minister of Power will assume the pivotal role of Chairmanship of the NELMCO Board, previously held by the Office of the Minister of Finance. This change underscores the central role NELMCO plays in the post-privatization management of the power sector’s liabilities.
Key appointments to the reconstituted NELMCO Board include:
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 appointed as NELMCO Managing Director/CEO for a five-year term
Mr. Joseph Asuku Bello named as NELMCO Executive Director, Asset Management for a five-year term
Mr. Hassan Yahya appointed as NELMCO Executive Director, Corporate Services for a five-year term
Mr. Abdullahi Mahmud Gaya designated as Non-Executive Director for a three-year term
Prof. (Mrs) Ayanfemi Ayandele appointed as Non-Executive Director for a three-year term
The restructuring, in line with President Tinubu’s Renewed Hope Agenda, is expected to accelerate progress in managing post-privatization liabilities within the power sector. The aim is to create conditions conducive to achieving world-class standards of operational efficiency across all facets of NESI.
