The Association of Power Generation Companies (APGC) has announced the appointment of Mr. Omatseyin Akene Ayida as the Chairman, Board of Trustees, following the retirement of Mr. Emmanuel N. 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, which held last week.
Mr. 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who represented Transcorp Power Limited on the Board of Trustees also stepped down as a member of the Board and has been replaced by the President/CEO of Transnational Corporation of Nigeria Plc (Transcorp), Mrs. Owen Omogiafo.
In his remarks, Mr. Nnorom thanked the Association for the confidence reposed on him as Chairman Board of trustees and commented on the current state of the power sector noting the issue of liquidity arising from the debts owed GENCOs for power already generated, transmitted and consumed by Nigerians.
“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”, he said.
Nnorom disclosed that during his tenure, he 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, Mr. Omatseyin Ayida, in responding to his appointment said “I appreciate the Board’s confidence in choosing me to lead our Association after the exemplary work done by Mr. Nnorom. 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.” He called on the appropriate authorities/stakeholders to 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.
Omatseyin Ayida is a member of the Board of Mainstream Energy Solutions Limited (“MESL”) – concessionaire of Kainji and Jebba Hydro Power Plants and was nominated to represent MESL as a member of the Board of Trustees of the APGC in 2018. He has a wealth of experience at Board and Management levels in Energy, Financial Markets, Strategy, and Risk Management. He is currently the Managing Director of Saken Capital Partners Limited, having served as the Managing Director of Ruyat Oil Limited previously