• Super Admin
• 07 Mar, 2026

President Bola Ahmed Tinubu on Friday inaugurated an 11-member committee to facilitate the incorporation of the proposed Grid Asset Management Company Limited (GAMCO), a new federal initiative aimed at addressing persistent grid management challenges and unlocking stranded electricity generation across Nigeria. The committee, chaired by the Chief of Staff to the President, Mr Femi Gbajabiamila, was inaugurated at the State House, Abuja, following the Federal Executive Council's approval earlier in the week for the establishment of the company as part of broader reforms in the power sector. Speaking on behalf of the President at the inauguration, Gbajabiamila described the proposed GAMCO as a "revolutionary step" in the administration's drive to optimise electricity generation and strengthen transmission infrastructure. In a statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, Gbajabiamila said, "the proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all-important power sector. "We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector", he said. Gbajabiamila urged members of the committee to align with President Tinubu's vision for transforming the electricity industry and to faithfully execute the committee's mandate. According to him, the panel will conduct a comprehensive review of existing laws, regulations, policies and institutional frameworks governing Nigeria's electricity value chain, including generation, transmission, distribution and market operations. The committee will also examine the implications of the Electricity Reform Laws (2025) and the ongoing unbundling arrangements in the sector, particularly as they affect asset ownership, management and regulatory oversight. It will identify areas of conflict, overlap or inconsistency between the proposed GAMCO framework and current legal and regulatory instruments guiding the industry. In addition, the committee is expected to assess the legal status, ownership structure and contractual obligations surrounding the assets of the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP). These assets include the Omotosho, Olorunsogo and Ihovbor power plants, which have been selected for the pilot phase of the GAMCO initiative. The panel will also evaluate the interface between GAMCO's proposed mandate and the statutory responsibilities of the Nigeria Electricity Regulatory Commission (NERC), while examining the fiscal and financial implications of the initiative, including potential subsidy exposure, market liquidity and revenue frameworks. Furthermore, the committee will determine whether the establishment and operationalisation of GAMCO would require amendments to existing legislation, subsidy regulations or executive directives. Apart from Gbajabiamila as chairman, members of the committee include the Attorney-General of the Federation and Minister of Justice; the Ministers of Power, Works and Finance; the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum. Other members are the Chairman of the Nigeria Revenue Service and renowned energy law expert, Professor Yemi Oke. The Permanent Secretary of the Cabinet Affairs Office, Dr John Chidiebere Ezeamama, will serve as secretary of the committee. The Grid Asset Management Company Limited is designed as a government-owned commercial venture, with its shares to be held by the Ministry of Finance Incorporated. Its primary objective is to recover and optimise stranded electricity generation by strengthening transmission evacuation capacity, beginning with the Benin-Lagos transmission corridor, which supplies bulk electricity to Ogun and Lagos States, the country's largest industrial and commercial centres. The pilot phase of the initiative will focus on boosting electricity output from three National Integrated Power Project plants -- Omotosho, with an installed capacity of 513 megawatts; Olorunsogo, with 754 megawatts; and Ihovbor, with 508 megawatts. Through the intervention, the government hopes to recover at least 1,600 megawatts of stranded power within the next 18 to 24 months. The project also includes plans to develop a new high-capacity 330KV+ double-circuit transmission line along the Benin-Lagos axis to support improved power evacuation. Under the proposed arrangement, the Niger Delta Power Holding Company will grant GAMCO concession and lease rights over the three plants, while the Transmission Company of Nigeria (TCN) will grant the company the right to develop, finance and operate the new transmission infrastructure along the corridor. The Federal Government said the initiative is intended to transform under-utilised public investments in the power sector into reliably delivered electricity, improve grid stability and enhance energy supply to Nigeria's major economic hubs. It added that successful implementation of the pilot phase would create a scalable model that could be replicated across other plants and transmission corridors nationwide, forming the backbone of long-term grid stabilisation and expansion. According to the presidency, unlocking stranded generation capacity and improving transmission efficiency would boost industrial productivity, safeguard jobs, strengthen investor confidence and improve the welfare of Nigerian households, in line with the Renewed Hope Agenda of the Tinubu administration. Source: https://thenationonlineng.net/tinubu-inaugurates-committee-on-grid-asset-management-company-2/