President Bola Tinubu has sanctioned the revamp and reorganization of the Governing Board of the FGN Power Company, as confirmed by Presidential spokesperson Ajuri Ngelale.
This initiative aims to comprehensively modernize Nigeria’s electric power transmission grid within the framework of the Presidential Power Initiative (PPI).
The FGN Power Company plays a crucial role in executing the accelerated performance agreement with Siemens Energy, a vital aspect of the Presidential Power Initiative aimed at modernizing the country’s power transmission infrastructure.
The newly structured Board of the FGN Power Company will be overseen by the Honourable Minister of Power as its Chairperson, with the Honourable Minister of Finance appointed as the Vice-Chairperson.
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Key stakeholders from various sectors have been incorporated into the reconstituted Board to ensure diverse representation:
-Honourable Minister of Power — Board Chairman, FGN Power Company
– Honourable Minister of Finance — Board Vice-Chairman, FGN Power Company
– Managing Director/CEO, FGN Power Company
— Member- Director-General, Bureau for Public Enterprises — Member
– Managing Director, Transmission Company of Nigeria (TCN) — Member
– Distribution Companies’ Representative — Member- Generation Companies’ Representative — Member
– President, Nigerian Society of Engineers (NSE) — Member
Simultaneously, the President has eliminated the Steering Committee from the governance structure of the FGN Power Company, with oversight now vested in the Office of the Minister of Power.
Ngelale emphasized that President Tinubu anticipates enhanced organizational efficiency and agility through this streamlined structure, facilitating the smooth implementation of Nigeria’s electric power transmission grid’s comprehensive modernization in collaboration with Siemens Energy.
The overarching objective remains the delivery of improved power infrastructure for the benefit of all Nigerians
