Nigeria’s power sector is grappling with systemic inefficiencies, and according to Bayo Adelabu, the Minister of Power, poor corporate governance practices are at the heart of these challenges, especially among government-owned assets.
Speaking in Abuja on Monday at the inaugural corporate governance forum convened by the Ministry of Finance Incorporated (MOFI), in collaboration with the World Bank, Adelabu stressed that weak governance structures are not only hindering value creation but also obstructing the country’s path toward energy security and economic development.
The two-day forum, held under the theme: “Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance,” focused on the need to drive transparency, accountability, and efficiency in public enterprises.
The event also had MOFI launch a corporate governance scorecard for its over 50 portfolio companies to track performance. (Businessday)