Tinubu Assigns Power Minister, Bayo Adelabu To Head Reconstituted Power Company Board

By: The New Diplomat

Cat:

March 7, 2024

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By Ken Afor

Following the reconstitution and restructuring of the Governing Board of the Federal Government of Nigeria (FGN) Power Company, President Bola Tinubu has appointed the Minister of Power, Mr. Bayo Adelabu, as chairman of the board.

The board will oversee the implementation of an accelerated performance agreement with Siemens Energy.

In a statement released on Thursday by Mr. Ajuri Ngelale, Special Adviser to the President on Media and Publicity, the president’s decision is a further step towards achieving the comprehensive modernization of Nigeria’s electric power transmission grid as part of the Presidential Power Initiative (PPI).

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According to the statement, the President has also endorsed the removal of the Steering Committee from the governance structure of the FGN Power Company, transferring full oversight authority to the Office of the Minister of Power.

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The statement reads: “By the President’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power.

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(1) Honourable Minister of Power — Board Chairman, FGN Power Company

(2) Honourable Minister of Finance — Board Vice-Chairman, FGN Power Company

(3) Managing Director/CEO, FGN Power Company — Member

(4) Director-General, Bureau for Public Enterprises — Member

(5) Managing Director, Transmission Company of Nigeria (TCN) — Member

(6) Distribution Companies’ Representative — Member

(7) Generation Companies’ Representative — Member

(8) President, Nigerian Society of Engineers (NSE) — Member

“Furthermore, the President has approved the removal of the Steering Committee from the governance framework of the FGN Power Company with full oversight powers granted to the Office of the Minister of Power.

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“President Tinubu has approved the aforementioned changes with the full expectation that the leaner structure will provide greater organizational agility and efficiency in delivering the complete modernization of the nation’s electric power transmission grid in collaboration with Siemens Energy for the benefit of all Nigerians.”

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