.. elevates Power Minister to Board Chairman
Oredola Adeola
Adebayo Adelabu, Minister of Power, has assumed the Chairmanship of the Board of the Nigeria Electricity Liability Management Company (NELMCO) from the Minister of Finance, while Mrs. Mojoyinoluwa Dekalu-Thomas also been confirmed as Managing Director/CEO for a five-year term.
This was contained in a directive by President Bola Tinubu, released by the State House on Thursday and obtained by the Advisors Reports.
Mrs. Dekalu-Thomas, who previously served as the Acting MD/CEO, following the departure of Mr. Adebayo Fagbemi on May 8, 2023, is now entrusted with the crucial task of enhancing NELMCO’s oversight of operations within the Nigeria Electricity Supply Industry (NESI).
The Minister of Finance now serves as the Vice-Chairman of the Board, while the newly constituted Board includes key figures such as the Director-General of the Debt Management Office and DG of the Bureau of Public Enterprises (BPE).
Additionally, Mr. Joseph Asuku Bello, who assumes the role of NELMCO ED for Asset Management, and Hassan Yahya are appointed as ED for Corporate Services.
Similarly, Mr. Abdullahi Mahkud Gaya as a Non-ED member, and Prof (Mrs) Ayanfemi Ayandele as another Non-ED member for a three-year term.
Aligned with the Renewed Hope Agenda, President Tinubu anticipates that the revamped structure and composition of NELMCO’s Boards will drive swift and tangible progress in managing post-privatization liabilities within the power sector.
This strategic move, according to the President aims to establish conditions conducive to achieving world-class standards of operational efficiency across all facets of the Nigerian Electricity Supply Industry (NESI).
