- FG approves NELMCO governing board.
- Minister of Finance, Budget, and National Planning, Zainab Ahmed, was selected as the new board’s chairman.
The Federal Government has approved the Nigeria Electricity Liability Management Company Limited’s governing board. It revealed this in a statement by Ibeh Chidi, Head, Public Communications, Bureau of Public Enterprises.
“The National Council on Privatisation has approved the immediate composition and suggested governance structure for the sustainable management and payment of post-privatisation liabilities of the electricity sector transferred to NELMCO, which hitherto was without a board,” according to the statement.
“This was one of the major decisions taken by the council at its third meeting for 2022 held at the Presidential Villa, Abuja on June 30, 2022, and presided over by the Vice President, Prof. Yemi Osinbajo.”
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, was selected as the new board’s chairman by the BPE. Other board members include the Minister of Power, Aliyu Abubakakar, the Director-General of the BPE, Alex Okoh, and the Debt Management Office, Patience Oniha.
The remaining members include NELMCO’s Managing Director, Adebayo Fagbemi, all NELMCO executive directors, and two private sector members.
“Council noted the need to ensure an appropriate governance framework and sustainable management of NELMCO’s affairs as contained in the provisions of its Memorandum and Articles of Association (which) necessitated the constitution of the board,” the bureau stated.