The Bureau of Public Service Reforms (BPSR) has awarded the Nigerian Electricity Liability Management Company (NELMCO) a gold level rating following the outcome of Self Assessment Tool (SAT) as mandated by the Federal Government.
This was as the company disclosed that it saved the Federal Government N92 billion naira through various innovations in the management of assets and liability of the defunt Power Holding Company of Nigeria (PHCN).
Presenting the award to the Managing Director of NELMCO, Mr Adebayo Fagbemi, in Abuja, the Director-General of BPSR, D. I. Arabi, said NELMCO submitted its operation to SAT and was adjudged exceptionally satisfactory on all indices.
He said the BPSR deployed SAT in NELMCO corporate headquarters, Abuja in March 2020 after which the Self-Assessment Report was generated, adding: “The BPSR also undertook a validated assessment, where key documents of NELMCO were verified.
“NELMCO performance was rated as consistently meeting expectations in all essential areas of responsibilities, at times exceeding expectations as the quality of work is generally good.
“The most critical organisational goals were met. BPSR were pleased and awarded NELMCO Gold Level Award- a public service agency that meets expectations.”

Arabi described the SAT as a mechanism to check and improve performance of the organisation, adding that the Federal Government issued a directive vide circular BPSR/SGF/SAT/01/V.1, dated 18 November, 2019m
He said the directive made it mandatory for the deployment of the SAT in all MDAs as a means to further strengthen the process of delivering service to the Nigerian citizens.
While noting that only NELMCO submitted itself for SAT in the power sector, Arabi expressed gratitude to its Managing Director and his management team for the opportunity offered the BPSR to deploy the self-assessment tool at NELMCO in line with the Federal Government directive.

Responding, the NELMCO MD expressed appreciation to the BPSR and the management of Federal Ministry of Power, and affirmed that the award would spur him and his team to work harder to support the realisation of Federal Government agenda in the power sector.
Recalling the mandate of the agency, Adebayo said NELMCO achieved a lot within the period of its existence and listed its achievements to include ensuring reconciliation and recoveries of funds from the market operator and recovery of fund from the superannuation fund.
Other achievements, he said, included valuation of transferred PHCN assets; recovery of overtime containers; ecoveries of MDA debts; reducing 1,472 PHCN legal cases transferred to NELMCO to 490 after a nationwide due – diligence and saving the nation billions of naira.

He further said the agency reduced cases to 420 through negations through out-of-court settlement; winning majority of her litigation, in favour of the government; comprehensive legal audit of all cases; execution legal search and due diligence of the non – core asset transferred to NELMCO to guide the non – core assets committee in the disposal of the assets; Implementation of Electronic Documentation Management Systems (EDMS).
The agency has also saved about 92 billion naira for the government through triangular model verification of liability of PHCN; saved the PHCN successor companies from encumbrances and possible litigation arising from huge legacy debts, staff pensions, supplies and third party liabilities, among others.
Mr Fagbemi said NELMCO “is to give comfort to the power sector as to characterisation of liability and assets.”
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