The Minister of Power, Engr. Sale Mamman, has announced Dr. Nnaemeka Ewelukwa as the new Managing Director/CEO for the Nigerian Bulk Electricity Trading PLC (NBET).
Ewelukwa replaces Dr. Marilyn Amobi whose tenure elapses in July 2020.
A statement by the minister’s spokesman, Aaron Artimas, on Monday said, the new appointment was in furtherance of the reorganization and realignments in the Power Sector.
Until his appointment, Dr. Ewelukwa was the company’s General Counsel and Secretary.
“He is to succeed Dr. Marilyn Amobi, as substantive Managing Director/CEO, while the former MD is to handover and proceed on terminal leave with immediate effect.
“President Muhammadu Buhari had earlier approved the recommendation to this effect,” Engr. Mamman said in the statement.
Daily Trust reports that Engr. Mamman had in December 2019 directed that the erstwhile MD, Dr. Amobi stepped down over myriads of complaints.
The minister also raised a five man committee to investigate the complaints against Amobi that include overriding superior officers’ decisions.
Barely 24 hours after the directive was issued, NBET confirmed in a statement that Dr. Ewelukwa, a General Manager, and the pioneer General Counsel and Company Secretary at NBET took charge of the agencies’ operations.
Dr. Ewelukwa has been there at the establishment of NBET by the Federal Government of Nigeria (FGN) as a bulk electricity trader in the nascent electricity market.
Ewelukwa has been part of the executive management team at NBET and has over 20 years of professional experience spanning private practice, academia and currently, public service.
Prior to joining NBET, he served as a Technical Adviser on electricity regulatory and transaction issues with the Presidential Task Force on Power (PTFP) set up by the federal government to lead the implementation of the reform roadmap for the power sector.
He has led NBET’s negotiations with Independent Power Producers (IPPs) and the development of Power Purchase Agreements (PPAs} at NBET, paving the way for billions of dollars in additional private sector investments in the electric power sector.
Dr Ewelukwa is also a co-author of three globally acclaimed handbooks on electricity transactions.
A qualified lawyer by training, Dr. Ewelukwa holds an undergraduate law degree from the University of Nigeria, a Master of Laws degree in International Business Law, from the London School of Economics and Political Science (LSE} and a PhD in Law from Queen Mary, University of London, with specialization on privatization and the legal reform of the Nigerian power sector.
He is also a member of the Chartered Institute of Arbitrators.