Tinubu Approves Reconstitution Of FGN Power Company Board Of Directors

Posted by Rotimi Fadeyi Business News, Featured, Latest Headlines Thursday, March 7th, 2024

(AFRICAN EXAMINER) – In furtherance of his effort to achieve the full modernization of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI), 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.

A statement issued on Thursday and signed by Presidential Spokesman, Ajuri Ngelale, said 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.

Those listed on the reconstituted governing board of the FGN power company are:

(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.

Tinubu has also approved the changes with the full expectation that the leaner structure would 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.