President Bola Ahmed Tinubu has inaugurated an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO) as part of efforts to improve Nigeria’s electricity sector.
The inauguration, held on Friday, followed the approval by the Federal Executive Council for the establishment of the company at its Wednesday meeting. The initiative is expected to address long-standing challenges in the power sector, including stranded power, grid management, and transmission constraints.
The President’s Chief of Staff, Femi Gbajabiamila, who inaugurated the committee on behalf of the President, described GAMCO as a key step in transforming Nigeria’s power infrastructure.
According to him, the proposed company is part of the administration’s strategy to optimise and revolutionise power generation, particularly in the grid and transmission segments.
“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,” Gbajabiamila said.
He urged members of the committee to align with the President’s vision and strictly adhere to the mandate given to them.
The committee is tasked with conducting a comprehensive review of existing laws, regulations, policies and institutional frameworks governing the electricity value chain, including generation, transmission, distribution and market operations. It will also examine the implications of the Electricity Reform Laws (2025) and assess areas of conflict or overlap with the proposed GAMCO framework.
In addition, the committee will review the legal status, ownership structure and contractual obligations of the Niger Delta Power Holding Company and assets under the National Integrated Power Project, including the Omotosho, Olorunshogo and Ihovbor power plants, which are expected to serve as the pilot phase for GAMCO.
Other responsibilities include evaluating the interface between GAMCO and the Nigerian Electricity Regulatory Commission, and determining the fiscal, financial and market implications of the initiative, including subsidy exposure, market liquidity and revenue frameworks.
The committee is chaired by the Chief of Staff to the President, with the Lateef Fagbemi, Attorney-General of the Federation and Minister of Justice, and the Ministers of Power, Works and Finance serving as members. Other members include the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State for Petroleum, the Chairman of the Nigeria Revenue Service, and energy expert Yemi Oke.
The Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, will serve as the committee’s secretary.
The Grid Asset Management Company aims to recover and optimise stranded power generation using the Benin–Lagos transmission corridor as its pilot phase.
The initiative will focus on improving electricity reliability through better asset management and mobilisation of private capital. The Federal Government will fully own GAMCO as a commercial venture, with its shares held by the Ministry of Finance Incorporated.
As part of the pilot phase, GAMCO will optimise power output from three NIPP plants—Omotosho, Olorunsogo and Ihovbor—with installed capacities of 513 megawatts, 754 megawatts and 508 megawatts respectively.
The company aims to recover at least 1,600 megawatts of power within 18 to 24 months while developing a new high-capacity 330kV double-circuit transmission line along the Benin–Lagos corridor, which supplies bulk electricity to Lagos State and Ogun State, Nigeria’s largest commercial and industrial centres.
According to the Presidency, the project is expected to enhance industrial productivity, safeguard jobs, improve investor confidence and strengthen electricity supply for households across the country, in line with the administration’s Renewed Hope Agenda.
