AGS NEWS – President Bola Tinubu has given the green light for the reconstitution and restructuring of the Governing Board of the FGN Power Company.

This move is part of the federal government’s drive to achieve comprehensive modernization of Nigeria’s electric power transmission grid under the Presidential Power Initiative (PPI), particularly through the accelerated performance agreement with Siemens Energy.

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In line with the President’s directive, the Chairmanship of the FGN Power Company Board will now be under the Office of the Minister of Power.

Other key positions include the Minister of Finance as Vice-Chairman, the Managing Director/CEO of FGN Power Company, Director-General of the Bureau for Public Enterprises, Managing Director of the Transmission Company of Nigeria (TCN), and representatives from Distribution Companies and Generation Companies, along with a member from the Nigerian Society of Engineers (NSE).

The President has sanctioned the removal of the Steering Committee from the governance structure of the FGN Power Company, granting full oversight powers to the Office of the Minister of Power.

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Presidential spokesman Ajuri Ngelale, in a statement on Thursday, highlighted that these changes aim to enhance organizational agility and efficiency within the FGN Power Company, facilitating collaboration with Siemens Energy to fully modernize Nigeria’s electric power transmission grid for the benefit of all citizens.