Tinubu reconstitutes NELMCO board, removes Finance Minister as Chairman

By Kazeem Ugbodaga

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.

The modification 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).

A statement issued by presidential spokesman, Ajuri Ngelale said the Minister of Power is now NELMCO Board Chairman, while the Minister of Finance is now NELMCO Board Vice-Chairman.

Other members of the board are the Director-General, Debt Management Office; Director-General, Bureau of Public Enterprises, while  Mrs. Mojoyinoluwa Dekalu-Thomas  is now the NELMCO Managing Director/CEO (five-year term).

Others are Mr. Joseph Asuku Bello, NELMCO Executive Director, Asset Management (five-year term), Mr. Hassan Yahya, NELMCO Executive Director, Corporate Services (five-year term); Mr. Abdullahi Mahmud Gaya, Non-Executive Director (three-year term) and Prof. (Mrs) Ayanfemi Ayandele, Non-Executive Director (three-year term).

Ngelale said in consonance with his Renewed Hope Agenda, President Tinubu anticipated that NELMCO Board’s new structure and composition would 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).