Business
FG Inaugurates Board For Transmission Company
The Federal Government has inaugurated a nine-member board for the Transmission Company of Nigeria (TCN).
During the inauguration in Abuja, recently the Minister of Power, Prof Chinedu Nebo, urged the board to come up with guidelines for the managing firm, Manitoba Hydro International, Canada.
The board has Alhaji Hamman Tukur as Chairman and Akinsola Akinfemiwa as Vice-Chairman.
Other members of the board are the director of Human Resources Management, Bureau for Public Enterprises, representative of the Coordinating Minister for the Economy/Minister of Finance and Director of Power, Federal Ministry of Power.
Others are a commissioner from the Nigerian Electricity Regulatory Commission, representative of the Manufacturers Association of Nigeria, representative of the Generation Companies and representative of the Distribution Companies.
Nebo reminded members of the board that they were only to play a supervisory role.
He listed some of the functions of the board to include, reduction of electricity losses in the transmission networks, equitable generation dispatch and operation of a transmission system consistent with regulatory framework.
Others are improvement of Grid security and general performance, provision of micro Grid for power nationwide, efficient market settlements between electricity market and participants.
Nebo urged the members to guarantee transfer of skills to Nigerians and to ensure efficient management, effective monitoring and evaluation of government investments.
The minister said that Manitoba was expected to revamp the TCN, in order to achieve technical and financial adequacy as well as commercial viability in the industry.
He said that the new TCN would be market driven and capable of evacuating the maximum capacity of energy generated for onward distribution to the people.
Earlier, Tukur said that it was embarrassing that Nigeria with a population of more than 160 million was still serviced with only 4,500 megawatts.