TINUBU SET UP COMMITEE ON GRID ASSET MANAGEMENT COMPANY
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HOTJIST NEWS
President Bola Tinubu on Friday started a group of 11 people to help set up and run the Grid Asset Management Company Limited (GAMCO) smoothly, after the Federal Executive Council gave approval for the company earlier in the week.
The initiative is designed to fast-track solutions to Nigeria’s longstanding power challenges, including stranded generation capacity, grid management, and transmission bottlenecks.
The Chief of Staff to the President, Femi Gbajabiamila, who performed the inauguration on behalf of the President, described GAMCO as a “revolutionary step” aimed at optimising power generation and modernising the transmission sector. He urged committee members to align with the President’s vision and stick closely to their mandate.
The committee will review existing laws, regulations, and institutional frameworks governing electricity generation, transmission, distribution, and market operations. It will examine the implications of the Electricity Reform Laws (2025) and assess the legal status, ownership structure, and contractual obligations of the Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho, Olorunsogo, and Ihovbor plants, which will form GAMCO’s pilot phase.
Other responsibilities include evaluating GAMCO’s interface with the Nigeria Electricity Regulatory Commission, assessing fiscal and market implications, and recommending any necessary legislative or regulatory amendments.
The Chief of Staff serves as committee chairman, with the Attorney-General of the Federation, Ministers of Power, Works, Finance, Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State for Petroleum, the Chairman of the Nigerian Revenue Service, and energy expert Professor Yemi Oke as members. The Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, is secretary.
GAMCO, fully owned by the Federal Government through the Ministry of Finance Incorporated, will focus initially on the Benin-Lagos transmission corridor, connecting major industrial and commercial hubs in Ogun and Lagos states. The company aims to recover at least 1,600 MW within 18–24 months from the three selected NIPP plants and construct a new high-capacity 330KV+ double-circuit transmission line.
The successful pilot phase will serve as a model for nationwide grid stabilisation and expansion, optimising underperforming federal power assets, boosting industrial productivity, safeguarding jobs, improving investor confidence, and enhancing electricity reliability for households, in line with the Tinubu administration’s Renewed Hope Agenda.
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