…inaugurates a new electricity management board
The Federal Government has completed the acquisition of four electricity distribution companies and constituted the board of the Nigeria Electricity Liability Management Company.
Vice President Yemi Osinbajo, on Friday, said the newly constituted board of directors of the Nigeria Electricity Liability Management Company will enhance ongoing efforts to resolve liabilities related to tariff shortfalls of power distribution companies across the country.
According to a statement signed by his Senior Special Assistant on Media and Publicity, Laolu Akande, Osinbajo made the assertion in his virtual remarks at the inauguration of NELMCO’s new 10-member board.
The statement was titled “FG moves to resolve tariff shortfalls in power sector as Osinbajo inaugurates Nigeria Electricity Accountability Management Council”.
The Vice President also tasked the board composed of Ministers of Finance, Power and others to protect the interests of society, especially ordinary citizens.
Prior to Friday’s inauguration, NELMCO was operating without a duly constituted board since the first board was inaugurated in 2013 and dissolved soon after.
According to the vice president, “today’s inauguration marks an important milestone in the commitment to resolve the liabilities related to the lack of tariffs in the electricity sector (specifically for distribution companies), and to offer a true mechanism to manage the highly dynamic nature of liquidity. challenges of the power sector in Nigeria.
“This ceremony formally incorporates the invaluable skills and experience of notable and highly respected personalities as members of the NELMCO Board.”