Abuja – The Association of Power Generation Companies (APGC) has appointed Mr Omatseyin Ayida as its new Chairman, Board of Trustees (BOT).
The development followed the retirement of Mr Emmanuel Nnorom from the board, having completed his four-year tenure.
Mrs Joy Ogaji, the Executive Secretary, APGC, in a statement in Abuja on Friday said the appointment and retirement of Ayida and Nnorom was in line with the association’s governance charter.
The News Agency of Nigeria (NAN) reports that the change of baton was reached at the association’s 3rd Annual General Meeting, which held on Wednesday, June 17.
Ayida is a member of the Board of Mainstream Energy Solutions Limited (MESL), concessionaire of Kainji and Jebba Hydro Power Plants.
He was nominated to represent MESL as a member of the BOT of the APGC in 2018.
He has a wealth of experience at Board and Management levels in Energy, Financial Markets, Strategy and Risk Management.
Ogaji revealed that Ayida is currently the Managing Director of Saken Capital Partners Limited, having served as the Managing Director of Ruyat Oil Limited previously.
According to her, Nnorom, who represent Transcorp Power Limited on the BOT, also stepped down as a member of the board.
She said that he has been replaced by the President and Chief Executive Officer (CEO) of Transnational Corporation of Nigeria Plc (Transcorp), Mrs Owen Omogiafo.
Nnorom, in his remarks, thanked the APGC for the confidence reposed on him as Chairman BOT, while noting the issue of liquidity arising from the debts owed Generation Companies (GENCOs) for power already generated, transmitted and consumed by Nigerians.
He said, as an association, there are immediate challenges the APGC must tackle.
“‘For instance, we appreciate the recent improvement in payment by Nigeria Bulk Electricity Trading (NBET) of money owed the DisCos.
“While other outstanding legacy debt equally owed our members be paid to enable them meet funding obligations critical to their ability to stay operational,” he said.
On his part, Ayida appreciated the board’s confidence in choosing him to lead the association after the exemplary work done by Nnorom.
He thanked Nnorom for his leadership, vision and tenacity as his 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 appropriate authorities/stakeholders should ensure improvements in the transmission and distribution infrastructure in the country,
“So as to enhance increased dispatch and evacuation of power generated, which will bring about improved supply to Nigerians,” Ayida said.
(NAN)
