Tinubu restructures FGN Power Company, appoints new board
President Bola Tinubu
Published By: Ayorinde Oluokun
President Bola Tinubu has approved the reconstitution and amended structure of the Governing Board of the FGN Power Company, which is tasked with implementing the accelerated performance agreement with Siemens Energy.
Chief Ajuri Ngelale, Special Adviser to the President, (Media & Publicity) announced this in a statement on Wednesday evening.
According to him, the reconstitution of the board by the President was furtherance of his landmark effort to achieve the full end-to-end modernization of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI),
According to the statement by the President’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power.
(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
In addition, the statement indicated that 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.
“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,” Ngelale concluded.
