Minister of Power, Adebayo Adelabu, has sought urgent structural reforms across Nigeria’s public enterprises, emphasising that improved efficiency and productivity are crucial amid the evolving complexities of the nation’s economy.

Speaking at the Corporate Governance Forum yesterday in Abuja, Adelabu, who stressed that good governance is central to national development, noted that it ensures public resources are safeguarded and strategically deployed to meet the country’s needs.

The forum, the first of its kind in the country, was convened by the Ministry of Finance Incorporated (MOFI) in collaboration with the World Bank and other development partners.

Highlighting ongoing reforms in the power sector, the minister cited the recent unbundling of the Transmission Company of Nigeria (TCN) into two independent operational entities, the Nigeria Independent System Operator (NISO) and the Transmission Service Provider (TSP), as a major milestone.

He explained that the move, in line with the provisions of the Electricity Act 2023, was aimed at fostering operational clarity, transparency, and long-term value creation through stronger corporate governance.

Adelabu emphasised that governance in the power sector is not an abstract policy but a necessary step already underway, starting with the structural separation of TCN. He said the NISO would oversee the real-time balancing of electricity supply and demand while the TSP would focus on maintaining and expanding the country’s transmission infrastructure.

The minister commended MOFI for spearheading the repositioning of federal asset management and placing governance at the heart of public enterprise performance.

He described the launch of the Corporate Governance Scorecard and pilot assessment as vital tools for driving transparency and performance culture across SOEs.