President Bola Tinubu has approved the reconstitution and amended structure of the Governing Board of the FGN Power Company.
Under the new arrangement, the minister of power will be the chairman to be assisted by the minister of finance as vice chairman.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement on Thursday, said that the board is tasked with the responsibility of implementing the accelerated performance agreement with Siemens Energy.
Other members of the board are Managing Director/CEO of the company; Director-General, Bureau for Public Enterprises; and Managing Director, Transmission Company of Nigeria (TCN).
Also on the board are the Distribution Companies’ Representative; Generation Companies’ Representative and President, Nigerian Society of Engineers (NSE).
The new board is constituted to ensure the full end-to-end modernisation of the nation’s electric power transmission grid as part of the Presidential Power Initiative (PPI).
Ngelale added that the president also approved the removal of the Steering Committee from the governance framework of the FGN Power Company and granted full oversight powers to the Office of the Minister of Power.
