President Bola Ahmed Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing persistent challenges in Nigeria’s electricity sector, including stranded power and transmission bottlenecks.
The committee was constituted following the approval of GAMCO by the Federal Executive Council during its meeting on Wednesday.
Performing the inauguration on behalf of the President, the Chief of Staff, Femi Gbajabiamila, described the initiative as a key step in the administration’s effort to transform the country’s power 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 said.
“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.”
He urged members of the committee to align with the President’s vision and diligently carry out their mandate.
According to him, the committee will undertake a comprehensive review of the legal, regulatory and institutional frameworks governing Nigeria’s electricity value chain, covering generation, transmission, distribution and market operations.
“The committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain,” he said.
It will also examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management and regulatory oversight, while identifying potential conflicts or overlaps with the proposed GAMCO framework.
Committee Membership
Gbajabiamila will chair the committee, while members include the Attorney-General of the Federation and Minister of Justice, as well as the Ministers of Power, Works and Finance.
Other members are 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 secretary of the committee.
Mandate and Power Sector Reform
The committee will also evaluate the legal status and ownership structure of assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project.
Particular attention will be given to the Omotosho, Olorunshogo and Ihovbor power plants, which are expected to serve as the pilot phase for GAMCO operations.
Additionally, the committee will examine the relationship between GAMCO and the Nigeria Electricity Regulatory Commission to ensure regulatory alignment, while also analysing the financial and market implications of the initiative, including subsidy exposure, revenue frameworks and market liquidity.
Targeting 1,600MW Recovery
GAMCO is expected to focus on recovering stranded power generation and improving transmission capacity along the Benin–Lagos transmission corridor, which supplies electricity to key industrial hubs in Ogun and Lagos states.
The pilot phase will optimise generation from the Omotosho, Olorunshogo and Ihovbor power plants, which have installed capacities of 513 megawatts, 754 megawatts and 508 megawatts respectively.
According to the Presidency, the initiative aims to recover at least 1,600 megawatts of electricity within 18 to 24 months.
The plan also includes the development of a high-capacity 330kV double-circuit transmission line along the same corridor to improve evacuation of generated power.
Under the arrangement, the Niger Delta Power Holding Company will grant GAMCO concession and lease rights for the three plants, while the Transmission Company of Nigeria will allow the company to develop, finance and operate a new independent transmission line along the Benin–Lagos axis.
The Federal Government will fully own GAMCO as a commercial venture, with its shares held by the Ministry of Finance Incorporated.
The Presidency said the initiative is designed to unlock underutilised national power assets, improve electricity reliability, boost industrial productivity and strengthen investor confidence in line with the administration’s Renewed Hope Agenda.
Gbajabiamila stressed that the success of the pilot phase would create a scalable model that could be extended to other plants and transmission corridors across the country, ultimately forming the backbone of long-term grid stabilisation and expansion.
