Tinubu Overhauls NELMCO Board to Revamp Power Sector

President Bola Tinubu has greenlit the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO), marking a pivotal moment in the country’s quest for an efficient and robust power sector.

This move comes with a significant modification to the NELMCO Board structure, signaling a strategic shift in governance aimed at enhancing the operations of the Nigeria Electricity Supply Industry (NESI).

In a bid to streamline oversight and bolster effectiveness, the Office of the Minister of Power will now assume the Chairmanship of the NELMCO Board, displacing the previous authority held by the Office of the Minister of Finance.

New Board Composition:

The reconstituted NELMCO Board boasts a diverse array of seasoned professionals, each bringing a wealth of experience and expertise to the table:

• Honourable Minister of Power: Assumes the mantle of NELMCO Board Chairman, symbolizing the government’s unwavering commitment to driving transformative change in the power sector.
• Honourable Minister of Finance: Transitions to the role of NELMCO Board Vice-Chairman, ensuring continued collaboration and synergy between key ministries in the pursuit of NESI’s objectives.
• Director-General, Debt Management Office: Appointed as a Member, bringing a nuanced understanding of financial intricacies to the Board’s deliberations.
• Director-General, Bureau of Public Enterprises: Also designated as a Member, contributing insights gleaned from extensive experience in privatization efforts.
• Mrs. Mojoyinoluwa Dekalu-Thomas: Named as the NELMCO Managing Director/CEO for a five-year term, tasked with spearheading strategic initiatives to address post-privatization liabilities and enhance operational efficiency.
• Mr. Joseph Asuku Bello and Mr. Hassan Yahya: Appointed as Executive Directors, Asset Management, and Corporate Services, respectively, each serving a five-year term to oversee critical facets of NELMCO’s operations.
• Mr. Abdullahi Mahmud Gaya and Prof. (Mrs) Ayanfemi Ayandele: Join the Board as Non-Executive Directors for three-year terms, bringing fresh perspectives and insights to the governance framework.

Vision for Progress:

President Tinubu’s Renewed Hope Agenda underscores the overarching objective of the NELMCO Board’s reconstitution: to catalyze tangible and rapid advancements in the management of post-privatization liabilities within the power sector. By fostering a conducive environment for sustainable growth and development, the revamped Board aims to pave the way for the attainment of world-class standards of operational efficiency across all facets of NESI.

In summary, the reconstituted NELMCO Board represents a pivotal step towards realizing Nigeria’s vision of a dynamic and resilient power sector. With a diverse and capable leadership team at the helm, guided by a shared commitment to excellence, the nation stands poised to unlock its full potential and usher in a new era of energy prosperity.