President Bola Tinubu has constituted an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO), an initiative aimed at improving Nigeria’s power transmission and grid management.
The federal executive council approved the company’s establishment on Wednesday.
On Friday in Abuja, Femi Gbajabiamila, chief of staff to the president, inaugurated the committee on Tinubu’s behalf.
In the build-up to the 2023 general elections, Tinubu had told Nigerians not to vote for him for a second term if he fails to give them constant power.
Committee to Review Power Sector Framework
Gbajabiamila said the committee will help drive reforms in Nigeria’s electricity sector, describing GAMCO as a major step toward strengthening the national grid.
“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.
“We are here for the inauguration of the committee on grid asset management company (GAMCO), which is to optimise and revolutionise power generation, particularly the grid and transmission sector.”
Gbajabiamila urged members to align with the president’s vision and carry out their mandate diligently.
The committee will review existing laws, policies, and regulatory frameworks guiding Nigeria’s electricity value chain. These include generation, transmission, distribution, and market operations.
Members will also examine the implications of the Electricity Reform Laws (2025). They will identify conflicts or overlaps between the proposed GAMCO framework and existing regulations.
Focus on Stranded Power, Transmission Bottlenecks
The committee will assess the legal status and ownership structure of the Niger Delta Power Holding Company (NDPHC). It will also review the assets of the National Integrated Power Project (NIPP).
These include the Omotosho, Olorunshogo, and Ihovbor power plants, which GAMCO plans to use for its pilot phase.
Members will evaluate GAMCO’s relationship with the Nigeria Electricity Regulatory Commission (NERC). They will also examine the fiscal and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.
The panel will determine whether the establishment of GAMCO requires amendments to existing laws or new legislation.
Gbajabiamila will chair the committee.
Members include the Attorney-General of the Federation and Minister of Justice, as well as the ministers of power, works, and finance.
Others are the ministers of communication and digital economy, science and technology, aviation and aerospace development, and the minister of state for petroleum.
The chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke are also members.
John Chidiebere Ezeamama, permanent secretary of the cabinet affairs office, will serve as secretary.
Plan to Recover 1,600MW of Stranded Power
GAMCO aims to recover stranded electricity generation and improve grid efficiency. It will achieve this through better asset management and private capital mobilisation.
The company will begin with a pilot project along the Benin–Lagos transmission corridor. This corridor supplies bulk electricity to Ogun and Lagos states, two of Nigeria’s largest industrial and commercial hubs.
The pilot phase will focus on improving output from the Omotosho, Olorunsogo, and Ihovbor power plants under the National Integrated Power Project.
Omotosho has an installed capacity of 513 megawatts (MW). Olorunsogo has 754MW, while Ihovbor has 508MW.
The project aims to recover at least 1,600MW of stranded capacity within 18 to 24 months.
It will also develop a new high-capacity 330kV double-circuit transmission line along the corridor.
The federal government will fully own GAMCO as a commercial venture. The Ministry of Finance Incorporated will hold the shares.
Officials say the initiative will modernise power transmission, unlock underutilised assets, and improve electricity reliability across the country.
If the pilot phase succeeds, the government plans to extend the model to other plants and transmission corridors. The long-term goal is to stabilise and expand Nigeria’s national grid while boosting industrial productivity.
