President Bola Tinubu has set up an 11-member committee to facilitate the creation of the Grid Asset Management Company Limited (GAMCO), a new initiative designed to tackle long-standing problems in Nigeria’s power sector.
The committee follows the approval by the Federal Executive Council for the establishment of GAMCO, which is expected to address issues such as stranded electricity generation, transmission constraints, and inefficiencies in grid management.
The committee was inaugurated on behalf of the President by the Chief of Staff, Femi Gbajabiamila, who described the move as a significant reform effort aimed at strengthening the country’s electricity system.
The President’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed the development in a statement issued on Friday.
According to Gbajabiamila, the proposed company represents one of the administration’s boldest steps toward improving the power sector.
“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.
He also urged members of the committee to stay focused on the President’s vision and carry out their assignment in line with the mandate given to them.
Part of the committee’s responsibilities will be to carry out a detailed review of existing laws, policies, regulations, and institutional frameworks governing Nigeria’s electricity value chain, including power generation, transmission, distribution, and market operations.
Members are also expected to examine how the Electricity Reform Laws (2025) could affect asset ownership, management structures, and regulatory supervision in the sector. The review will identify potential overlaps or inconsistencies between the proposed GAMCO framework and current legal provisions.
The committee will also study key assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project. These include the Omotosho, Olorunsogo, and Ihovbor power plants, which have been selected for the pilot phase of the initiative.
In addition, it will assess the relationship between the proposed company and the Nigerian Electricity Regulatory Commission, including financial and market implications such as subsidy exposure, revenue structures, and overall market liquidity.
The panel is also expected to determine whether establishing GAMCO will require amendments to existing laws, subsidy guidelines, or executive directives.
The committee is chaired by the President’s Chief of Staff and includes the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, as well as the Ministers of Power, Works, and Finance. Other members include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Also serving on the committee are the Chairman of the Nigeria Revenue Service, energy expert Yemi Oke, and the Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, who will act as secretary.
Under the proposal, the Grid Asset Management Company Limited will operate as a government-owned commercial enterprise, with its shares held through the Ministry of Finance Incorporated.
The project will begin with a pilot programme focused on recovering and optimising stranded electricity generation capacity along the Benin–Lagos transmission corridor.
Government officials say the corridor is critical to Nigeria’s power system because it supplies electricity to Ogun and Lagos states, which are major industrial and commercial hubs.
During the pilot phase, the company aims to improve output from the Omotosho (513MW), Olorunsogo (754MW), and Ihovbor (508MW) power plants.
The government projects that the initiative could recover at least 1,600 megawatts of electricity within 18 to 24 months, alongside the construction of a new high-capacity 330KV double-circuit transmission line along the same corridor.
Authorities say that if the pilot project succeeds, the model could be expanded to other power plants and transmission routes across the country as part of a broader effort to stabilise Nigeria’s electricity grid.
Officials noted that despite significant investments in National Integrated Power Project assets, much of the generation capacity remains underutilised because of operational challenges and limitations in transmission infrastructure.
Through GAMCO, the government plans to unlock this stranded power by improving transmission evacuation from the selected plants and developing a parallel high-capacity transmission line along the Benin–Lagos route.
Under the proposed arrangement, the Niger Delta Power Holding Company will grant concession and lease agreements for the three plants, while the Transmission Company of Nigeria will permit the development, financing, and operation of the new transmission line.
The government believes the initiative will strengthen industrial productivity, safeguard jobs, boost investor confidence, and improve electricity supply for households as part of the administration’s broader economic strategy.
