Restructuring: FG inaugurates NISO board, to strengthen power sector
By Seun Ibiyemi
Vice President Kashim Shettima on Tuesday inaugurated the Board of the Nigerian Independent System Operator (NISO) Limited at the State House in Abuja, marking a significant step in the federal government’s ongoing effort to restructure and strengthen Nigeria’s electricity sector in line with the Electricity Act of 2023.
The 11-member board, chaired by legal and financial expert Dr. Adesegun Akin-Olugbade, is responsible for overseeing the operational and market independence of NISO. This organisation will now manage critical aspects of Nigeria’s electricity supply chain, including grid stability, system operations, power dispatch, and market coordination.
Other members of the board include Engr. Abdu Bello Mohammed (Managing Director), Engr. Nafisatu Asabe Ali (Executive Director, System Operation), Engr. Shehu Abba-Aliyu (Executive Director, System Planning), Dr. Edmund Eje (Executive Director, Market Operation), and Mr. Babajide Ibironke (Executive Director, Finance and Corporate Services).
The non-executive directors are Engr. Lamu Audu, Mrs. Folake Soetan, Mr. Tajudeen Giwa-Osagie, Mr. Mahmuda Mamman (Permanent Secretary, Federal Ministry of Power), and Engr. Sule Ahmed Abdulaziz (MD/CEO, Transmission Company of Nigeria).
Delivering the welcome remarks at the ceremony, the Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Ariyo Gbeleyi, described the event as a “significant milestone in the ongoing reform of the country’s power sector.” He added that it aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the vision for “an efficient, reliable, and competitive electricity market.”
“NISO represents a critical milestone in Nigeria’s electricity industry reform journey. It serves as an essential pillar in Nigeria’s Electricity Supply Industry (NESI) by ensuring that the System Operator and Market Operator function independently and transparently, promoting efficiency and boosting investor confidence,” Gbeleyi remarked.
Providing insights into the meticulous process that led to the board’s formation, Gbeleyi explained that the appointments were guided by Section 30(5) of the Electricity Act 2023, which mandates the creation of an Independent Board Nomination Committee (IBNC) made up of seasoned professionals.
“The Bureau sought and obtained the approval of His Excellency, the Vice President and Chairman of the National Council on Privatisation (NCP), for the constitution of the IBNC. This committee, inaugurated on 1st August 2024, led a transparent, competitive, and merit-based process to select the board members,” he said.
According to Gbeleyi, the IBNC, which included industry experts such as former TCN MD Engr. Akinwunmi Bada and former NBET MD Mr. Rumundaka Wonodi, received over 500 applications following advertisements in three national newspapers. “Interviews were conducted for 51 shortlisted candidates,” he added, noting that both executive and non-executive positions underwent thorough vetting, including NERC’s “Fit and Proper Test.”
“For the non-executive positions, the process was based on a restrictive selection method, relying on a set of guidelines and merit-based criteria developed in consultation with NERC. In collaboration with key stakeholders, the list of nominees was further screened with due consideration for diversity, Federal Character, and statutory requirements,” he said.
Gbeleyi expressed his gratitude to President Tinubu and Vice President Shettima for their leadership and dedication to the reform process.
“Permit me to express our most sincere appreciation to His Excellency, President Bola Ahmed Tinubu, GCFR, and His Excellency, the Vice President, for their unwavering commitment to the sustained reform of the power sector,” he said.
He also acknowledged the contributions of the Honourable Minister of Power, NERC, MOFI, TCN, generation and distribution companies, and private sector partners for their support in making the NISO transition a reality.
To the new board members, Gbeleyi offered a charge of responsibility and national duty: “I congratulate you on your well-deserved appointments and urge you to serve with diligence, integrity, and a deep sense of responsibility. The success of NISO will undoubtedly play a crucial role in shaping the future of Nigeria’s power sector.”
With the formal launch of NISO’s leadership, stakeholders believe these reforms signal a new era for Nigeria’s power infrastructure—one characterised by transparency, operational independence, and increased investor confidence.