Nigeria’s President, Bola Tinubu has inaugurated an 11-man committee to facilitate the establishment of the Grid Asset Management Company Limited (GAMCO) as part of efforts to improve electricity supply across the country.
The committee, chaired by the President’s Chief of Staff, Femi Gbajabiamila, was inaugurated in Abuja on Friday following the approval of the Federal Executive Council for the creation of the new company.
Other members include the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, Minister of Power, Ademola Adelabu, Minister of Works, David Umahi, and Minister of Finance, Wale Edun, alongside other government officials and energy experts.
The committee’s terms of reference is to ensure the smooth incorporation of GAMCO and review existing laws, regulations and policies guiding Nigeria’s electricity value chain, including power generation, transmission and distribution.
Represented by Gbajabiamila during the inauguration, President Tinubu said the establishment of GAMCO is part of his administration’s efforts to address persistent problems in the power sector, particularly issues relating to stranded power generation and transmission bottlenecks.
According to him, the committee will examine the legal and operational frameworks governing the electricity sector and assess the implications of the 2025 electricity reform laws on asset ownership, management and regulatory oversight.
The proposed company will initially focus on recovering and optimising stranded electricity along the Benin–Lagos transmission corridor, which supplies bulk power to major industrial and commercial centres.
The pilot phase will utilise three power plants under the National Integrated Power Project – Omotosho, Olorunsogo and Ihovbor – with a combined installed capacity of over 1,700 megawatts.
Government officials said the initiative aims to unlock at least 1,600 megawatts of electricity within the next 18 to 24 months by improving transmission infrastructure and mobilising private sector investment.
The Federal Government will fully own GAMCO through the Ministry of Finance Incorporated, while the company will operate as a commercial venture focused on improving grid management and strengthening Nigeria’s electricity supply.
Officials believe the initiative will enhance industrial productivity, boost investor confidence and improve electricity reliability for households and businesses across the country.
