Tinubu Inaugurates Committee on Grid Asset Management Company to Boost Power Supply
President Bola Ahmed Tinubu has inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing Nigeria’s persistent electricity transmission and grid management challenges.
The committee was inaugurated on Friday by the President’s Chief of Staff, Femi Gbajabiamila, following the Federal Executive Council’s approval for the creation of the company earlier in the week.
Speaking at the inauguration in Abuja, Gbajabiamila described the proposed GAMCO as a transformative step in reforming Nigeria’s power sector, particularly in strengthening grid and transmission operations.
According to him, the initiative reflects the administration’s commitment to improving electricity generation and delivery across the country.
“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. “The company is expected to optimise and revolutionise power generation, especially in the grid and transmission segment.”
The committee is tasked with conducting a comprehensive review of existing laws, policies and institutional frameworks governing Nigeria’s electricity value chain, including generation, transmission, distribution and market operations.
It will also examine the implications of the Electricity Reform Laws on asset ownership, management and regulatory oversight, while identifying any legal or regulatory conflicts that may affect the proposed GAMCO framework.
Part of its assignment includes assessing the legal and operational status of assets under the Niger Delta Power Holding Company and the National Integrated Power Project, particularly the Omotosho, Olorunshogo and Ihovbor power plants, which are expected to serve as the pilot phase for the new company.
The committee will also evaluate how GAMCO’s mandate will interface with the regulatory responsibilities of the Nigerian Electricity Regulatory Commission, as well as determine the fiscal and market implications of the project, including subsidy exposure, market liquidity and revenue frameworks.
Membership: Gbajabiamila will chair the committee, with members drawn from key government ministries and agencies.
They include the Attorney-General of the Federation and Minister of Justice, the Ministers of Power, Works and Finance, as well as the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Others are the Chairman of the Nigeria Revenue Service, energy law expert Yemi Oke, while the Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, will serve as secretary.
The company’s pilot phase will focus on recovering stranded electricity from three NIPP plants, Omotosho, Olorunshogo and Ihovbor, along the Benin-Lagos transmission corridor, one of the country’s most critical electricity supply routes serving major industrial centres in Ogun and Lagos states.
Combined, the plants have an installed capacity of over 1,700 megawatts. GAMCO is expected to recover at least 1,600 megawatts within 18 to 24 months through improved asset management and transmission capacity.
As part of the plan, the Niger Delta Power Holding Company will grant concession and lease arrangements for the plants, while the Transmission Company of Nigeria will allow GAMCO to develop and operate a new high-capacity 330kV double-circuit transmission line along the Benin-Lagos corridor.
The government said the initiative aims to optimise existing investments in power infrastructure, reduce stranded capacity and improve electricity reliability nationwide.
Officials added that the project is expected to enhance industrial productivity, boost investor confidence and support job creation, in line with the administration’s Renewed Hope Agenda.