President Bola Tinubu has inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO).
Speaking at the inauguration in Abuja, Chief of Staff to the President, Femi Gbajabiamila, who performed the ceremony on behalf of the President, described the initiative as a game-changing intervention for the nation’s 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,” Gbajabiamila stated.
He explained that the committee’s primary mandate is to optimise and revolutionise power generation, with particular focus on grid and transmission infrastructure to address the persistent challenge of stranded power.
The committee, which Gbajabiamila chairs, includes 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 Resources.
Other members are the Chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke, with the Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, serving as secretary.
The Chief of Staff called on members to align strictly with the President’s vision, noting that their tasks include conducting a comprehensive review of existing laws, regulations, and institutional frameworks governing the electricity value chain.
The committee will also examine the implications of the Electricity Reform Laws (2025) on asset ownership and regulatory oversight, while assessing the legal status of Niger Delta Power Holding Company assets earmarked for GAMCO’s pilot phase.
The assets include the Omotosho, Olorunsogo, and Ihovbor power plants, which currently contribute to substantial stranded capacity due to transmission evacuation bottlenecks.
“The committee will determine whether the establishment of GAMCO requires amendments to primary legislation, subsidy regulations, and executive directives,” Gbajabiamila added.
The GAMCO initiative aims to recover at least 1,600 megawatts within 18 to 24 months through a pilot programme along the Benin-Lagos transmission corridor, Nigeria’s most critical industrial axis.
The Federal Government will fully own GAMCO as a commercial venture, with shares held by the Ministry of Finance Incorporated, while the Niger Delta Power Holding Company will grant concession arrangements for the selected plants.
The ultimate goal, according to the statement, is to enhance industrial productivity, safeguard jobs, improve investor confidence, and boost welfare outcomes for Nigerian households in alignment with the Renewed Hope Agenda of the Tinubu administration.
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