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NELMCO Boss Says Electricity Company Has Recorded Over N1bn Revenue

The managing director, Nigeria Electricity Liability Management Ltd/Gte (NELMCO), Mr. A.N. Fagbemi, has said the agency raked in not less than N1billion under his watch. Speaking yesterday in Abuja during a courtesy visit to the Nigeria Association of Auctioneers(NAA), led by Alhaji Aliyu A. Kiliya, its national president, Fagbemi said,“You made our auctioning to be profitable despite the fact that we started the auctioning very late.

“Despite the fact that I started the auctioning very late, but as at the time I came in, it was remnants that were remaining. Most of the things were taken away before I came in,” he said.

The MD of the parastatal which is under the Federal Ministry of Power, Works and Housing and saddled with the responsibility of disposing non-core properties of the defunct Power Holding Company Of Nigeria (PHCN), explained that ‘even with the fact that what were left were remnants, with the help of your members, your association, we were still able to go into it.

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And I want to say that it is on my record that what we were able to get with those remnants, NELCOM never had that amount since its existence. “May be to be more specific, with the short period I was able to manage NELCOME in collaboration with your members, we raked in not less than N1billion,” he added. The MD explained that “I’m actually very delighted to be here.

I have started the second  term of my tenure as the MD of NELCOM. The president approved it that I continue for another term of four years.” He told the association that “You will not understand but it is we that are there that understand how you were able to help NELCOM concerning our scraps and obsolete items. And that is why I said the first place I’m going to visit, this second time, is you people. “We have patronised your members. The statistics of our records shows that we patronise at least, thirty different auctioneers.


And then we have also observed that because of the professionalism you have exhibited in the course of our work, we try to also make comparison with some other agencies that do auctioning as to what came in to them and to what came in to us.”

Source: New Telegraph

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