President Bola Tinubu has approved the reconstitution and amended structure of the Governing Board of the FGN Power Company.
Presidential spokesman, Ajuri Ngelale in a statement on Thursday, said that the board was tasked with the responsibility of implementing the accelerated performance agreement with Siemens Energy.
By the President’s directive, the Chairmanship of the FGN Power Company Board has been assigned to the Office of the Minister of Power with Minister of Finance as Vice-Chairman.
Other members are Managing Director/CEO of the company; Director-General, Bureau for Public Enterprises; and Managing Director, Transmission Company of Nigeria (TCN).
The rest of the members 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