THE HOUSE COMMITTEE ON POWER OVERSIGHT VISIT TO NELMCO
In what is regarded as one of her statutory functions, the House Committee on Power, scheduled a visit to the Management of NELMCO on October 21, 2024, to conduct an oversight exercise and be abreast of the activities of the organisation. According to the Committee, the Electricity Act 2023 is geared towards making significant progress in the Power Sector. It is equally important to note that NELMCO is the solution to resolving the liquidity issues in the Nigeria Electricity Supply Industry (NESI) by settling all outstanding post-privation liabilities, thereby paving the way for much-needed investment in the Power Sector.
THE HONOURABLE MINISTER OF POWER FAMILIARIZATION VISIT TO NELMCO
The Honourable Honourable Minister of Power, Mr Adebayo Adelabu have paid a familiarisation visit to the Nigeria Electricity Liability Management Company (NELMCO).
During the visit to the headquarters of the NELMCO in Abuja, Managing Director/CEO, Mrs Mojoyinoluwa Dekaluthomas said the NELMCO under her leadership has recorded various achievements in ensuring that the organisation performs its statutory function in the management of the post-privatisation liabilities in the Power Sector.
The Minister assured the Management of the support and cooperation of the Ministry towards ensuring that the Renewed Hope Agenda of the President and his vision for the Power Sector will be delivered. The Minister later took a tour of the NELMCO headquarters.
THE OPENING OF NELMCO REGIONAL OFFICES
The Nigerian Electricity Liability Management Company Ltd, Gte (NELMCO) marked a significant milestone today, 28th October 2024 with the opening of her South West and North East regional offices, a vital step in the agency’s ongoing mission to ensure the settling of all outstanding post-privation liabilities in the Nigeria Electricity supply industries (NESI). The ceremony, held at the Headquarters in Abuja, was attended by all staff of the agency. The opening of the regional offices is to accommodate the expansion of NELMCO’s mandate in managing the post-privatisation liabilities in the NESI.
RECONSTITUTION OF THE NELMCO's BOARD
President Bola Tinubu authorized the reconstitution of the board of the Nigeria Electricity Liability Management Company (NELMCO). He also revised the board's structure, granting the Office of the Minister of Power the authority to assume the role of Board Chair, and granting the role of the vice-chairman to the Office of the Minister of Finance. This change reflects NELMCO's pivotal role within the Nigeria Electricity Supply Industry (NESI).
The membership of the Board includes the Minister of Power, Mr Adebayo Adelabu, as NELMCO Board Chairman and the Minister of Finance, Wale Edun, as Vice-Chairman. The Director-General of the Debt Management Office, Patience Oniha, would serve as a board member alongside her counterpart at the Bureau of Public Enterprises. Mrs Mojoyinoluwa Dekalu-Thomas as NELMCO Managing Director/CEO, Mr Joseph Bello as Executive Director, Asset Management, Mr Hassan Yahya as Executive Director, Corporate Services, and Mr Abdullahi Gaya and Prof. (Mrs.) Ayanfemi Ayandele will serve as non-Executive Directors.
The Bureau of Public Service Reforms, BPSR, has formally handed over the Institutional Strengthening Tools (ISTs) produced for the Nigeria Electricity Liability Management Company (NELMCO), to the Minister of Power, Engr. Abubakar D. Aliyu.
The ISTs were developed jointly by NELMCO, BPSR and Bratim Consultants, after the deployment of a Self-Assessment Tool, SAT, in NELMCO, last year.
Director General of BPSR, Dasuki Ibrahim Arabi, presented the IST to the Minister at the Power House in Abuja. Engr. Ali was represented by his Ministry's Permanent Secretary, Nebeolisa Anako.
In a remark, Arabi, explained that SAT was deployed at NELMCO corporate headquarters, in Abuja, from 3rd to 4th March, 2020.
He said to ensure the validity of the self-assessment, BPSR undertook a validated assessment of NELMCO where the agency substantiated every claim it had made during its own independent assessment.
He said: "After the validation session, BPSR invited its external Quality Assurance (QA) team to carry out a quality check of the results and processes to ensure the accuracy, validity, soundness and utility of the self-assessment results."
The BPSR Director General, however, noted that at the end of the process, several recommendations were made which we felt if implemented will change the fortunes of NELMCO.
Anako, in his address, expressed delight with what the Bureau and Arabi is doing, especially in the aspect of initiating and driving salient reform initiatives.
Mr. Nathaniel Adebayo Fagbemi, Managing Director of NELMCO, described the SAT exercise of BPSR at their agency as tough, rigorous and engaging.
Signed:
Aliyu Umar Aliyu,