The Association of Power Generation Companies (APGC), at the weekend, announced the appointment of Omatseyin Akene Ayida as Chairman of its Board of Trustees, replacing Emmanuel Nnorom, who retired after completing his four years tenure in line with the Association’s governance charter.
A statement said his appointment was during the association’s third Annual General Meeting at the midweek, where Mrs. Owen Omogiafo, President/Chief Executive of Transnational Corporation of Nigeria Plc (Transcorp), was appointed to replace Nnorom, who had represented Transcorp Power Limited on the board.
While commenting on the current state of the power sector in the country, Nnorom thanked the association for the confidence reposed in him during his tenure as chairman Board of trustees.
He lamented the issue of liquidity arising from the debts owed by power generation companies (GENCOs) for power already generated, transmitted and consumed by Nigerians.
This, is an immediate challenge the association must tackle, he said, even as he appreciated “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”.
Nnorom, during his tenure, was instrumental in promoting the association’s mandate of driving synergy and commercial viability within Nigeria’s power sector.
Responding to his appointment, Ayida, the new Chairman expressed appreciation to the board for its confidence in choosing him “to lead our association after the exemplary work done by Mr. Nnorom.”
He appreciated the leadership, vision, and tenacity of his predecessor, whose successes he promised to build upon, saying his “appointment showcases the strong corporate governance culture we have as an association.”
He also pledged to maintain “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.
Ayida, a member of the board of Mainstream Energy Solutions Limited (MESL), concessionaire of Kainji and Jebba Hydro Power Plants, a company he has represented as a member of the APGC Board of Trustees of the since 2018.
He is currently the Managing Director of Saken Capital Partners Limited, having served as the Managing Director of Ruyat Oil Limited previously.