- President Bola Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO),
- The reform initiative aimed at tackling Nigeria’s persistent power sector challenges
- The committee will review existing laws, policies, and institutional frameworks governing electricity generation, transmission, and distribution to address inefficiencies and regulatory conflicts
President Bola Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at tackling Nigeria’s persistent power sector challenges.
The committee was formed following approval by the Federal Executive Council to create GAMCO as part of efforts to address stranded power generation, transmission bottlenecks, and inefficiencies in grid management.
The inauguration was performed on behalf of the President by Femi Gbajabiamila, who described the initiative as a major reform step in the electricity 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.
The committee’s mandate includes a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, covering generation, transmission, distribution, and market operations.
It will also examine the implications of the Electricity Reform Laws (2025) on asset ownership, management structures, and regulatory oversight, identifying areas of conflict or overlap within the proposed GAMCO framework.
Key assets under review include facilities owned by the Niger Delta Power Holding Company and projects under the National Integrated Power Project, particularly the Omotosho, Olorunsogo, and Ihovbor power plants, which will serve as the pilot phase of GAMCO’s operations.
The committee will also assess the relationship between the proposed company and the Transmission Company of Nigeria, evaluating fiscal and market implications such as subsidy exposure, revenue structures, and market liquidity.
Additionally, it will determine whether legislative or regulatory amendments are required to support the initiative.
Membership of the committee includes the President’s Chief of Staff, ministers of Power, Works, Finance, Communications and Digital Economy, Science and Technology, Aviation, and Petroleum. Others are the chairman of the revenue service, energy expert Yemi Oke, and the Permanent Secretary of the Cabinet Affairs Office, who serves as secretary.
The proposed GAMCO is envisioned as a government-owned commercial venture, with shares held through the Ministry of Finance Incorporated. Its primary goal is to recover and optimise stranded electricity generation capacity using the Benin–Lagos transmission corridor as the pilot phase.
“The company will modernise transmission evacuation, starting from the most critical axis within Nigeria’s power system. The Benin-Lagos transmission corridor evacuates bulk power supply to Ogun and Lagos states, Nigeria’s largest industrial and commercial centres,” the statement noted.
The pilot phase seeks to recover at least 1,600 megawatts within 18–24 months and will involve developing a high-capacity 330kV double-circuit transmission line along the corridor.
Success in the pilot phase will enable expansion of the model to other transmission networks to enhance grid stability.
Government officials say substantial investments in power generation assets have remained underutilised due to transmission constraints and operational inefficiencies.
GAMCO aims to unlock stranded capacity, modernise infrastructure, and attract investment into the sector.
As proposed, the Niger Delta Power Holding Company will grant concession and lease arrangements for selected plants, while the Transmission Company of Nigeria will allow development and operation of new transmission infrastructure along the Benin–Lagos axis.
The initiative is expected to boost industrial productivity, enhance investor confidence, and improve household access to reliable electricity in line with the administration’s broader economic reform agenda.