March 07, (THEWILL)- 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.
This is to further President Tinubu’s landmark effort to achieve the full end-to-end modernisation of the nation’s electric power transmission grid, as part of the Presidential Power Initiative (PPI), the Special Adviser on Media and Publicity, Ajuri Ngelale, said in a statement on Thursday night.
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 amended structure of the governing board shows:
(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.
According to Ngelale, “President Tinubu has approved the aforementioned 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.”
