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.
The latest move, according to a release issued on Thursday by presidential spokesperson, Ajuri Ngelale, is in furtherance of the President’s landmark effort to achieve the full end-to-end modernization of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI).
By the President’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power.
Other members of the board include Minister of Finance, Board Vice-Chairman; Managing Director/CEO, member; Director-General, Bureau for Public Enterprises, member and Managing Director, Transmission Company of Nigeria (TCN), member.
Other Board members are Distribution Companies’ Representative; Generation Companies’ Representative and President, Nigerian Society of Engineers (NSE).
The President also 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 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.
Deji Elumoye in Abuja
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