{"id":211753,"date":"2022-08-22T07:19:47","date_gmt":"2022-08-22T06:19:47","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=211753"},"modified":"2022-08-22T07:19:47","modified_gmt":"2022-08-22T06:19:47","slug":"osinbajo-inaugurates-nelmco-board-to-resolve-tariff-shortfalls-in-power-sector","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/08\/22\/osinbajo-inaugurates-nelmco-board-to-resolve-tariff-shortfalls-in-power-sector\/","title":{"rendered":"Osinbajo inaugurates NELMCO board to \u2018resolve tariff shortfalls\u2019 in power sector"},"content":{"rendered":"

Yemi Osinbajo, Vice-President has inaugurated the new governing board of the Nigeria Electricity Liability Management Company (NELMCO).<\/p>\n

This was contained in a statement issued on Sunday by his spokesperson, Laolu Akande.<\/p>\n

The company has been running without a duly constituted board since the first one was inaugurated in 2013 and dissolved shortly after.<\/p>\n

In his remarks at the inauguration, Osinbajo said the new board would enhance ongoing efforts to resolve liabilities relating to tariff shortfalls for electricity distribution companies (DisCos<\/a>), among other challenges plaguing Nigeria\u2019s power sector.<\/p>\n

\u201cToday\u2019s 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,\u201d Osinbajo was quoted as saying.<\/p>\n

\u201cThis ceremony formally brings on board the invaluable skills and experience of notable and highly respected personalities as members of the board of NELMCO.\u201d<\/p>\n

On the expectations for the new board, the vice-president told the members to make conscious and deliberate efforts to develop appropriate strategies to facilitate the successful conclusion of the outstanding pre-privatization issues of the defunct PHCN<\/a>, and ensure an effective implementation of NELMCO\u2019s additional mandate to resolve the tariff shortfall problems of DisCos.<\/p>\n

He urged them to continue to give credence to the federal government of Nigeria\u2019s economic development programme in a transparent, sustainable, credible and acceptable manner.<\/p>\n

\u201cThe 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\u2019s mandate,\u201d he added.<\/p>\n

Osinbajo also urged members \u201cto 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\u201d.<\/p>\n

Meanwhile, members of the board include Zainab Ahmed, minister of finance; Abubakar Aliyu, minister of power; Alex Okoh, director-general of Bureau for Public Enterprises (BPE); Patience Oniha, director-general of Debt Management Office (DMO<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

Yemi Osinbajo, Vice-President has inaugurated the new governing board of the Nigeria Electricity Liability Management Company (NELMCO). This was contained in a statement issued on Sunday by his spokesperson, Laolu Akande. The company has been running without a duly constituted board since the first one was inaugurated in 2013 and dissolved shortly after. In his […]<\/p>\n","protected":false},"author":17,"featured_media":211756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"double-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":""},"jnews_override_bookmark_settings":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[8778,44629,1780,805],"class_list":["post-211753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-discos","tag-nelmco","tag-phcn","tag-yemi-osinbajo"],"yoast_head":"\nOsinbajo inaugurates NELMCO board to \u2018resolve tariff shortfalls\u2019 in power sector<\/title>\n<meta name=\"description\" content=\"Yemi Osinbajo, Vice-President has inaugurated the new governing board of the Nigeria Electricity Liability Management Company (NELMCO)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/08\/22\/osinbajo-inaugurates-nelmco-board-to-resolve-tariff-shortfalls-in-power-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Osinbajo inaugurates NELMCO board to \u2018resolve tariff shortfalls\u2019 in power sector\" \/>\n<meta property=\"og:description\" content=\"Yemi Osinbajo, Vice-President has inaugurated the new governing board of the Nigeria Electricity Liability Management Company (NELMCO). 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