President Bola Tinubu has taken a decisive step in the transformation of Nigeria’s power sector with the reconstitution of the board of the Nigeria Electricity Liability Management Company (NELMCO). This strategic move, detailed in a recent announcement by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, signifies a significant shift in the governance structure of NELMCO, aiming to bolster the efficiency and operational standards of the Nigeria Electricity Supply Industry (NESI).
In an unprecedented change, President Tinubu has amended the NELMCO Board structure to position the Office of the Minister of Power at the helm, assuming the Board Chairmanship role previously held by the Office of the Minister of Finance. This adjustment underscores the pivotal role NELMCO plays within the NESI and reflects the administration’s dedication to enhancing the power sector’s performance.
The restructured board will be led by the Minister of Power, Mr. Adebayo Adelabu, serving as Chairman, with the Minister of Finance, Wale Edun, stepping into the role of Vice-Chairman. Their leadership is anticipated to drive forward the essential reforms needed to manage the sector’s post-privatization liabilities effectively and foster sustainable development within NESI.
The board will also benefit from the expertise of Patience Oniha, the Director-General of the Debt Management Office, and her counterpart at the Bureau of Public Enterprises, both of whom are appointed as board members. Their collective experience and understanding of Nigeria’s financial and economic landscape are expected to contribute significantly to NELMCO’s strategic objectives.
Further boosting the board’s capabilities, President Tinubu has approved the appointments of Mrs. Mojoyinoluwa Dekalu-Thomas as NELMCO Managing Director/CEO, Mr. Joseph Bello as Executive Director, Asset Management, and Mr. Hassan Yahya as Executive Director, Corporate Services. Each has been granted a five-year term, during which they will play a critical role in steering the company towards achieving its mission. Additionally, Mr. Abdullahi Gaya and Prof. (Mrs.) Ayanfemi Ayandele will contribute their insights and expertise as non-executive directors for a three-year term each.
President Tinubu’s vision for the NELMCO Board is to facilitate rapid and tangible improvements in managing the power sector’s liabilities, thereby laying the groundwork for the NESI to meet world-class standards of operational efficiency. This reconstitution is more than a reshuffling of positions; it represents a committed effort to address the challenges facing Nigeria’s electricity supply industry head-on, with the goal of delivering reliable and sustainable power to the nation.
