APPROVAL, RECONSTITUTION OF NELMCO BOARD AND AMENDED STRUCTURE~ Presidency

𝐒𝐭𝐚𝐭𝐞𝐡𝐨𝐮𝐬𝐞 𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞

PRESIDENT TINUBU

President Bola Tinubu has approved the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO) with a modification to the NELMCO Board structure, which empowers the Office of the Minister of Power to take over the Board Chairmanship from the Office of the Minister of Finance, in view of NELMCO's central role in the operation of the Nigeria Electricity Supply Industry (NESI).

Honourable Minister of Power — NELMCO Board Chairman

Honourable Minister of Finance — NELMCO Board Vice-Chairman

Director-General, Debt Management Office — Member

Director-General, Bureau of Public Enterprises — Member

Mrs. Mojoyinoluwa Dekalu-Thomas — NELMCO Managing Director/CEO (five-year term)

Mr. Joseph Asuku Bello — NELMCO Executive Director, Asset Management (five-year term)

Mr. Hassan Yahya — NELMCO Executive Director, Corporate Services (five-year term)

Mr. Abdullahi Mahmud Gaya — Non-Executive Director (three-year term)

Prof. (Mrs) Ayanfemi Ayandele — Non-Executive Director (three-year term)

In consonance with his Renewed Hope Agenda, President Tinubu anticipates that NELMCO Board's new structure and composition will yield expeditious and measurable progress in the management of the power sector's post-privatization liabilities to create conditions for the sustainable attainment of world-class standards of operational efficiency across all sub-components of the Nigeria Electricity Supply Industry (NESI).

𝐂𝐡𝐢𝐞𝐟 𝐀𝐣𝐮𝐫𝐢 𝐍𝐠𝐞𝐥𝐚𝐥𝐞

𝗦𝗽𝗲𝗰𝗶𝗮𝗹 𝗔𝗱𝘃𝗶𝘀𝗲𝗿 𝘁𝗼 𝘁𝗵𝗲 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁

(𝗠𝗲𝗱𝗶𝗮 & 𝗣𝘂𝗯𝗹𝗶𝗰𝗶𝘁𝘆)

March 7, 2024