President Bola Ahmed Tinubu has approved the reconstitution and amended structure of the Governing Board of the FGN Power Company.
The new board is tasked with implementing the accelerated performance agreement with Siemens Energy.
The initiative is part of the continued efforts of the President to achieve the full end-to-end modernization of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI).
This was made known in a statement released to journalists by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale.
Ngelale disclosed that by the President’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power.
The board includes:
(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
said: “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.”