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President Tinubu Greenlights Reconstitution of FGN Power Company Board of Directors

Written by sogadmin

President Bola Tinubu has approved the reconstitution of the Governing Board of the FGN Power Company, aiming to modernize Nigeria’s electric power transmission grid as part of the Presidential Power Initiative (PPI) [4]. The new board structure includes key members such as the Minister of Power as Chairman, Minister of Finance as Vice-Chairman, and other officials from relevant organizations[4]. This restructuring eliminates the Steering Committee and grants full oversight powers to the Office of the Minister of Power for enhanced organizational efficiency[4]. Additionally, President Tinubu has also reconstituted the Board of the Nigeria Electricity Liability Management Company (NELMCO) to improve the management of post-privatization liabilities in the power sector[4].

what is the fgn power company

The FGN Power Company, established as part of the Presidential Power Initiative (PPI), is a special purpose vehicle aimed at securing financing, coordinating stakeholders, and implementing commercial and contractual arrangements to address Nigeria’s electricity challenges[1]. It was created to modernize the country’s electric power transmission grid and improve access to electricity, with Phase 1 of the initiative targeting the delivery of 2,000MW to enhance power supply across Nigeria[4]. The company plays a crucial role in driving the PPI forward by engaging with key stakeholders and ensuring alignment for successful project implementation[4]. President Bola Tinubu recently approved the reconstitution of the FGN Power Company’s Governing Board to enhance organizational efficiency and oversight, with key officials like the Minister of Power as Chairman and Minister of Finance as Vice-Chairman[2][5].

Citations:
[1] https://fgnpowerco.ng
[2] https://leadership.ng/tinubu-reconstitutes-board-of-fgn-power-company/
[3] https://etenders.com.ng/fgn-power-company/
[4] https://www.vanguardngr.com/2022/02/improved-access-to-electricityll-enhance-development-fgn-power-company/
[5] https://punchng.com/tinubu-reconstitutes-board-of-fgn-power-company/

[1] https://statehouse.gov.ng/news/president-tinubu-approves-the-reconstitution-of-the-fgn-power-company-board-of-directors/

[2] https://punchng.com/tinubu-reconstitutes-board-of-fgn-power-company/

[3] https://leadership.ng/tinubu-reconstitutes-board-of-fgn-power-company/

[4] https://independent.ng/tinubu-okays-reconstitution-of-fgn-power-company-board-of-directors/

[5] https://twitter.com/NTANewsNow/status/1765827196168380692

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