₦airaland Forum

The inauguration of a board for the Nigeria Electricity Liability Management Company (NELMCO) will enhance ongoing efforts to resolve liabilities relating to tariff shortfalls for distribution companies, among other challenges plaguing Nigeria’s power sector, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo gave the assurance in his remarks delivered virtually at the inauguration of the new board of NELMCO.

The company has been running without a duly constituted board since the first one was inaugurated in 2013 and dissolved shortly after.

According to the Vice President, “today’s inauguration marks an important milestone in the bid to resolve the liabilities relating to tariff shortfalls in the power sector (specifically for Distribution Companies), and to provide a veritable mechanism for managing the very dynamic nature of the liquidity challenges of the power sector in Nigeria.”

Continuing, Prof. Osinbajo said “this ceremony formally brings on board the invaluable skills and experience of notable and highly respected personalities as members of the Board of NELMCO.”

On the expectations for the new board, the Vice President told the members that, “as a board, you are expected to make conscious and deliberate efforts to develop appropriate strategies to facilitate the successful conclusion of the outstanding pre-privatisation issues of the defunct PHCN, and ensure an effective implementation of NELMCO’s additional mandate to resolve the tariff shortfall problems of the Electricity Distribution Companies.”

“In view of the challenges ahead, you are expected to draw extensively on our experience over the years, to continue to give credence to the Federal Government of Nigeria’s economic development programme in a transparent, sustainable, credible and acceptable manner.

“The Board is required to take appropriate steps to also ensure that the interests of the various segments of our society, particularly the ordinary citizens, are protected in the implementation of NELMCO’s mandate,” the VP added.

On the board’s mandate, Prof. Osinbajo charged members “to diligently carry out the responsibilities assigned to the board in accordance with the provisions of the Memorandum and Articles of Association (MEMART) of the Company.”

Some of the provisions of the MEMART of the Company include:

*To assume and administer the stranded debts of the defunct Power Holding Company of Nigeria (PHCN) Plc pursuant to the provisions of Electric Power Sector Reform Act 2005.

*To manage post-privatisation liabilities in the power sector as may be directed by the National Council on Privatisation, or any authorized agency of the Federal Government from time to time in line with the power sector reform act 2005.

Responding on behalf of the members, the Board Chairperson and Minister of Finance, Budget and National Planning, Mrs. (Dr.) Zainab Shamsuna Ahmed, assured the Vice President of the board’s preparedness to ensure quick resolution of tariff shortfalls and related issues in the power sector in the most efficient manner.

Other members of the board include the

• Minister of Power, Engr. Abubakar Aliyu
• Director General of Bureau for Public Enterprises (BPE), Mr. Alex Okoh
• Director General of Debt Management Office (DMO), Ms. Patience Oniha
• Managing Director of NELMCO, Mr. Bayo Fagbemi
• Mr. Muhammad Aliyu Jumma’a
• Mr. Olufunso Olutola Olukoga
• Dr. Chinedum Orisakwe.
• Mojoyinoluwa Dekalu-Thomas and
• Dr. Nurain Hassan Ibrahim.

In a related development, the BPE Director General, Mr. Alex Okoh, has said the take-over of 4 electricity Distribution Companies (DISCOs) namely; Kaduna, Kano, Ibadan and Port Harcourt DISCOs has been concluded successfully.

Mr. Okoh, who disclosed this in a presentation made at a virtual meeting of the National Council on Privatisation (NCP) held earlier last week Tuesday, added that the challenge in the takeover of the Benin DISCO is being addressed.

The NCP is chaired by the Vice President who was represented at the meeting by the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, who is the Vice Chair of Council.

The Indigenous People of Biafra (IPOB) has said Governor Hope Uzodimma of Imo State did not stop the observance of sit-at-home order in the state.

It said Uzodimma could not stop the order, because he did not initiate it.

Emma Powerful, the spokesperson of IPOB, said the group cancelled the sit-at-home order on the advice of its leader, Nnamdi Kanu.

In a statement he signed, Powerful urged Nigerians to ignore Uzodimma’s remark that he stopped the observance of sit-at-home order in the state.

Powerful said: “IPOB wishes to remind Uzodimma that he does not have the capacity to stop the sit-at-home order initiated by IPOB. The group started the Monday sit-at-home last year, but subsequently cancelled it as advised by our leader, Kanu, due to appeals from elders and traditional rulers in our territory.

“So, it is obvious that Uzodimma is not properly informed when he said he stopped IPOB’s sit-at-home order in Imo. Uzodimma cannot stop IPOB’s order, because everybody knows he represents the interest of our enemies.

“As long as IPOB is concerned, our people are free to go about their businesses on Mondays without molestations. Our people love and respect IPOB orders when called upon, because they appreciate our struggle for their wellbeing and that of their children.

“We had long washed our hands off Monday sit-at-home order, and we have repeatedly made our stance known to Biafran public. Therefore, any violent enforcement of Monday sit-at-home anywhere in Biafra land is done by criminal gangs, led by Simon Ekpa, in collaboration with evil politicians, who sent him and his group to try and see if they can delay our march to total freedom from subjugation or stop it from coming.

“So, it is amusing that Uzodimma claimed he stopped IPOB sit-at-home in Imo. He does not have what it takes to do so. Uzodimma should know that IPOB does not consider him before embarking on anything.

“Our people are IPOB, and IPOB are our people. We understand ourselves, and we roll together any time any day.”

valentineuwakwe:
what next for joshua?