Tinubu reconstitutes FGN Power Company board
March 8, 2024550 views0 comments
Business a.m
President Bola Tinubu has approved the reorganisation of the governing board of the Federal Government of Nigeria Power Company (FGN Power), which is responsible for implementing the accelerated performance agreement with Siemens Energy.
This latest development comes just four months after the Nigerian and German governments signed the Presidential Power Initiative (PPI) agreement, which aims to ultimately inject 12,000 MegaWatts of electricity into the national grid.
Ajuri Ngelale, special adviser to the president on media and publicity, stated that the president has approved the reconstitution and amended structure of the FGN Power Company, which is aimed at achieving the “full end-to-end modernisation of the nation’s electric power transmission grid.
Ngelale, in a statement titled,”President Tinubu approves reconstitution of the FGN Power Company board of directors”, disclosed that the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power, headed by Adebayo Adelabu.
The new arrangement also includes Wale Edun, the Minister of Finance, as the Vice-Chairman of the Board, and Kenny Anuwe, the Managing Director/CEO of the FGN Power Company, as a member.
Other members include the director-general, Bureau for Public Enterprises,
managing director of the Transmission Company of Nigeria, a representative of the distribution and generation companies and the President of the Nigerian Society of Engineers.
In addition to the changes to the Board of Directors, President Tinubu has also approved the removal of the Steering Committee from the governance framework of the FGN Power Company.
Ngelale said that President Tinubu approved the changes with the full expectation that the leaner structure will provide greater organisational agility and efficiency in delivering the complete modernisation of the nation’s electric power transmission grid in collaboration with Siemens Energy, for the benefit of all Nigerians