President Bola Ahmed Tinubu has appointed executive and non-executive board members for the newly established Nigerian Independent System Operator (NISO).
He named Dr. Adesegun Akin-Olugbade as the board chairman, while Engineer Abdu Mohammed Bello was appointed as Managing Director.
This is coming almost a year after the Nigerian Electricity Regulatory Commission (NERC) unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO).
NERC in its order dated April 30, 2023, jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni, directed TCN to transfer all market and system operation functions to the newly established company.
This decision follows the enactment of the Electricity Act 2023, which provided more precise guidelines for the incorporation and licensing of the Independent System Operator (ISO) and the transfer of assets and liabilities of TCN’s portion of the ISO.
NERC also instructed the Bureau of Public Enterprises (BPE) to incorporate a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020, by May 31.
The newly formed company, to be named the Nigerian Independent System Operator of Nigeria Limited (NISO), will assume the market and system operation functions outlined in the Electricity Act and TCN’s system operation licence.
The President has also appointed four Executive Directors: Engineer Nafisatu Asabe Ali for Systems Operation, Engineer Shehu Abba-Aliyu for Systems Planning, Dr. Edmund Eje for Market Operations, and Mr. Babajide Ibironke for Finance and Corporate Services, according to a statement by presidential spokesman, Bayo Onanuga, Wednesday.
The Non-Executive Directors include Engineer Lamu Audu, representing Generation; Mrs Folake Soetan for Distribution; Mr Tajudeen Giwa-Osagie as Market Expert; Engineer Sule Ahmed Abdulaziz for Transmission, and Alhaji Mahmuda Mamman, Permanent Secretary at the Federal Ministry of Power.
The National Council on Privatisation (NCP) will finalise the recruitment process.
These appointments align with the Electricity Act of 2023. They followed a memorandum from Vice President Kashim Shettima and a rigorous selection process conducted by the Independent Board Nomination Committee (IBNC) in collaboration with Phillips Consulting Limited.
The creation of NISO fulfils a key mandate of the Electricity Act (2023), which requires the unbundling of the Transmission Company of Nigeria (TCN) into a Transmission System Provider (TSP) and an Independent System Operator (ISO).
The Nigerian Electricity Regulatory Commission (NERC) officially established NISO on April 30, 2024. The Bureau of Public Enterprises (BPE) and the Ministry of Finance Incorporated (MOFI) are its subscribers, each holding equal equity shares.
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