Joseph Bakare
President Bola Tinubu has inaugurated an 11-member Committee with the duty to help facilitate the creation of the proposed Grid Asset Management Company Limited (GAMCO), an initiative designed to improve electricity transmission and unlock stranded power generation across Nigeria.
The Committee was inaugurated on Friday at the State House in Abuja following approval by the Federal Executive Council earlier in the week for the establishment of the company as part of ongoing reforms in the nation’s power sector.
Chairing the Committee is the President’s Chief of Staff, Femi Gbajabiamila, who represented the president at the inauguration ceremony.
He described the planned company as a transformative step toward resolving longstanding issues affecting Nigeria’s electricity grid and transmission infrastructure.
According to a statement issued by the presidential spokesman, Bayo Onanuga, Gbajabiamila said the initiative reflects the administration’s determination to overhaul the electricity industry and maximise power generation capacity.
He explained that GAMCO would focus primarily on strengthening the national grid and improving the efficiency of power transmission so that electricity generated at power plants can be effectively delivered to consumers.
Gbajabiamila urged members of the committee to work closely with the administration’s reform agenda and carry out their assignment diligently. He noted that the panel would review the legal, regulatory and institutional frameworks governing the electricity sector, including policies related to power generation, transmission, distribution and market operations.
The Committee will also examine the implications of the Electricity Reform Laws (2025), particularly the ongoing restructuring of the sector and its impact on asset ownership, regulatory authority and operational responsibilities within the power industry.
As part of its mandate, the panel is expected to identify any inconsistencies or conflicts between existing regulations and the proposed framework for GAMCO.
Another major task before the committee is the evaluation of the legal and financial arrangements surrounding assets owned by the Niger Delta Power Holding Company under the National Integrated Power Project.
These assets include three power plants—Omotosho, Olorunsogo and Ihovbor—which have been selected for the pilot phase of the GAMCO initiative.
The committee will further assess how the proposed company’s responsibilities will interact with the regulatory functions of the Nigerian Electricity Regulatory Commission, while also reviewing possible financial implications such as subsidy exposure, market liquidity concerns and revenue generation frameworks.
It will also determine whether the operationalisation of GAMCO would require amendments to existing legislation, executive directives or subsidy policies governing the electricity market.
Membership of the Committee includes key government officials such as the Attorney-General of the Federation and Minister of Justice, as well as the Ministers responsible for Power, Works, Finance, Communications 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 law expert Yemi Oke are also members of the panel.
Serving as secretary to the committee is John Chidiebere Ezeamama, the Permanent Secretary in the Cabinet Affairs Office.
According to the presidency, GAMCO will operate as a government-owned commercial enterprise with shares held by the Ministry of Finance Incorporated.
The company’s primary objective is to recover stranded electricity generation and improve power delivery by strengthening transmission capacity, beginning with the Benin-Lagos transmission corridor that supplies electricity to major industrial and commercial centres in Ogun and Lagos states.
Under the pilot phase, the project aims to boost power output from three National Integrated Power Project plants: Omotosho with an installed capacity of 513 megawatts, Olorunsogo with 754 megawatts, and Ihovbor with 508 megawatts.
Through the initiative, the federal government expects to recover at least 1,600 megawatts of currently stranded electricity within the next 18 to 24 months.
The plan also includes the construction of a new high-capacity 330KV double-circuit transmission line along the Benin-Lagos corridor to improve power evacuation.
Under the proposed framework, the Niger Delta Power Holding Company will grant concession and lease rights for the three power plants to GAMCO, while the Transmission Company of Nigeria will allow the new company to develop, finance and operate transmission infrastructure along the corridor.
Government officials say the initiative is expected to convert underutilised public investments in the electricity sector into reliable power supply, improve grid stability and boost energy availability in Nigeria’s key economic zones.
The presidency added that if the pilot phase succeeds, the model could be expanded to other power plants and transmission corridors across the country, forming part of a broader strategy to stabilise and expand Nigeria’s electricity grid.
Officials believe that unlocking stranded generation capacity and improving transmission efficiency will strengthen industrial productivity, support job creation and enhance living conditions for households, aligning with the administration’s economic reform agenda.