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 restructuring is in furtherance of the federal government’s effors to achieve the full end-to-end modernization of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI).
With the president’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power.
Others are the Minister of Finance to serve as Board Vice-Chairman, FGN Power Company and Managing Director/CEO, FGN Power Company — Member, Director-General, Bureau for Public Enterprises — Member, Managing Director, Transmission Company of Nigeria (TCN) — Member and Distribution Companies’ Representative — Member
Others are Generation Companies’ Representative — Member and President, Nigerian Society of Engineers (NSE) Member
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.
A statement by Ajuri Ngelale, presidential spokesman on Thursday, noted that 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