Chairman, APGC Board of Trustees,Omatseyin Ayida.
By Barnabas Esiet.
The Association of Power Generation Companies (APGC) has announced the appointment of Omatseyin Ayida as the Chairman, Board of Trustees, following the retirement of the outgoing chairman, Emmanuel Nnorom, from the Board, having completed his four years tenure in line with the Association’s governance charter.
The announcement was made at the Association’s 3rd Annual General Meeting, held recently.
Nnorom who represented Transcorp Power Limited on the Board of Trustees also stepped down as a member of the Board and has been replaced by the President/CEO of Transnational Corporation of Nigeria Plc (Transcorp), Owen Omogiafo.
In a statement, APGC highlighted the concerns of the outgoing chairman regarding the current state of the power sector in Nigeria, noting the issue of liquidity arising from the debts owed GENCOs for power already generated, transmitted and consumed by Nigerians.
Former Chairman,APGC Board of Trustees, Emmanuel Nnorom
“As an association, there are immediate challenges we must tackle, for instance, we appreciate the recent improvement in payment by NBET of money owed us and ask that such improvement remains consistent while other outstanding legacy debt equally owed our members be paid to enable them meet funding obligations critical to their ability to stay operational”. Nnorom said.
According to the statement, during his tenure, Nnorom was instrumental in promoting the Association’s mandate of driving synergy and commercial viability within Nigeria’s power sector.
The new Chairman of the Board, Omatseyin Ayida, commended the Board for the confidence in choosing him to lead the Association after the glorious exit of Nnorom.
President/CEO of Transnational Corporation of Nigeria Plc (Transcorp), Owen Omogiafo.
“I thank him for his leadership, vision, and tenacity as my appointment showcases the strong corporate governance culture we have as an association, I will build on his successes and maintain our members’ commitment to supporting Nigeria’s development by generating much-needed power for the country.” The incoming chairman said.
He called on the appropriate authorities and stakeholders to facilitate improvements in the transmission and distribution infrastructure in the country, for increased dispatch and evacuation of power generated, which will bring about improved power supply to Nigerians.