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• 06 Mar, 2026

CHECK OUT: How to Start Earning with Copywriting in Just 7 Days - Even if You're a Complete Beginner Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria. President Bola Tinubu has constituted an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO) as part of efforts to improve electricity transmission and address stranded power in Nigeria. According to a statement issued by the President's Special Adviser on Information and Strategy, Bayo Onanuga, the committee was inaugurated on Friday following the approval of the company's establishment by the Federal Executive Council earlier in the week. The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of the president, said the initiative forms part of the administration's plan to strengthen Nigeria's power sector, particularly the transmission network. Gbajabiamila explained that the proposed company is expected to support reforms aimed at improving electricity generation, evacuation and addressing long-standing challenges affecting the national grid. "The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all-important power sector," he said during the inauguration. The Chief of Staff said the committee will conduct a comprehensive review of laws, regulations, and institutional frameworks governing Nigeria's electricity value chain, including generation, transmission, distribution, and market operations. According to the statement, members will examine the implications of the Electricity Reform Laws 2025 and identify any potential conflicts or overlaps with the proposed GAMCO framework. The committee is also expected to assess the legal status and operational structure of assets under the Niger Delta Power Holding Company and the National Integrated Power Project. These assets include the Omotosho Power Plant, Olorunsogo Power Plant and Ihovbor Power Plant, which will serve as the pilot facilities for the initiative. Other responsibilities include evaluating the relationship between GAMCO and the Nigerian Electricity Regulatory Commission and analysing the financial implications of the proposal, including market liquidity and subsidy exposure. The government said the new company aims to recover stranded power generation and improve transmission efficiency along the Benin-Lagos corridor, which supplies electricity to major industrial and commercial hubs in Ogun State and Lagos State. Under the pilot phase, the company will focus on optimising power output from three NIPP plants with a combined installed capacity of more than 1,700 megawatts. These include Omotosho with 513MW, Olorunsogo with 754MW, and Ihovbor with 508MW. According to the government, the initiative aims to recover at least 1,600 megawatts of electricity within 18 to 24 months while also developing a new 330KV double-circuit transmission line along the same corridor. The statement noted that the Federal Government will fully own GAMCO as a commercial entity, with shares held through the Ministry of Finance Incorporated. Under the proposed arrangement, the Niger Delta Power Holding Company will grant concession and lease rights for the three power plants to GAMCO. Meanwhile, the Transmission Company of Nigeria will allow the company to develop and operate a new high-capacity transmission line along the Benin-Lagos axis. The government said the initiative is expected to improve electricity reliability, attract private investment, and strengthen industrial productivity. Officials added that the project aligns with the administration's Renewed Hope Agenda, which aims to enhance economic competitiveness and improve living standards for Nigerians. Legit.ng earlier reported that electricity generation in Nigeria has fallen below 4,000 megawatt, following persistent gas supply shortages affecting thermal power plants. According to the Nigerian Independent System Operator (NISO), the total electricity generation on the national grid stood at 3,940.53 megawatts as of 5:00 a.m. on March 5, 2026. The agency explained that the situation worsened shortly after the early morning reading when several generating units were forced to shut down. Source: https://www.legit.ng/business-economy/energy/1699990-fg-moves-boost-power-supply-tinubu-inaugurates-committee-grid-management-company/