President Bola Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO), a government-owned initiative aimed at addressing Nigeria’s persistent power sector challenges.
The committee was constituted following approval by the Federal Executive Council (FEC) to create GAMCO as part of efforts to tackle stranded power generation, transmission bottlenecks, and inefficiencies in grid management.
Speaking at the inauguration, the Speaker of the House of Representatives, Femi Gbajabiamila, who represented the President, described the initiative as a major reform step in the electricity sector. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed the development in a statement on Friday.
“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,” the statement quoted him as saying.
The committee is tasked with conducting a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing electricity generation, transmission, distribution, and market operations. It will also assess the implications of the Electricity Reform Laws (2025) on asset ownership, management structures, and regulatory oversight, identifying conflicts, overlaps, or inconsistencies between the GAMCO framework and existing legal instruments.
Key assets under review include facilities owned by the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP), particularly the Omotosho, Olorunsogo, and Ihovbor power plants, which will form the pilot phase of the initiative.
The committee will also evaluate GAMCO’s relationship with the Nigerian Electricity Regulatory Commission (NERC), considering fiscal, financial, and market implications such as subsidy exposure, market liquidity, and revenue structures. It will determine if the establishment of GAMCO requires amendments to primary legislation, subsidy regulations, or executive directives.
The committee is chaired by the President’s Chief of Staff and includes the Ministers of Power, Works, Finance, Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum. Other members include the Chairman of the Federal Inland Revenue Service, energy expert Yemi Oke, and the Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, who serves as secretary.
GAMCO will operate as a fully government-owned commercial venture, with shares held through the Ministry of Finance Incorporated. The initiative aims to recover and optimise stranded electricity generation capacity, starting with the Benin–Lagos transmission corridor.
“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 said.
The pilot phase will focus on optimising output from the Omotosho (513MW), Olorunsogo (754MW), and Ihovbor (508MW) plants, with projections to recover at least 1,600 MW within 18-24 months. A new high-capacity 330kV+ double-circuit transmission line is also planned along the corridor.
Success in the pilot phase will enable GAMCO’s model to expand to other power plants and transmission corridors, supporting long-term grid stabilisation. The initiative is expected to improve industrial productivity, safeguard jobs, boost investor confidence, and enhance household welfare, addressing longstanding operational inefficiencies and stranded capacity in Nigeria’s power sector.
