President Bola Tinubu has constituted an 11-member committee to ensure the smooth incorporation of the Grid Asset Management Company Limited (GAMCO).
The committee’s formation followed the Federal Executive Council’s approval of the company’s establishment at its meeting on Wednesday.
The proposed company is expected to provide a quick-fix solution to the persistent problems of stranded power, grid management, and transmission challenges in Nigeria’s electricity sector.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of the President on Friday, said the body would play a critical role in realising the administration’s vision for the power sector.
According to him, the establishment of GAMCO represents one of the transformative steps being taken by the Tinubu administration to address challenges in the power sector, particularly in grid and transmission management.
“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all-important power sector. We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, particularly the grid and transmission sector,” Gbajabiamila said.
He urged members of the committee to align with the President’s vision and diligently carry out their mandate.
The committee is expected to conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations.
It will also examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management, and regulatory oversight. In addition, the committee will identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and existing legal and regulatory instruments.
Part of its mandate includes assessing the legal status, ownership structure, and contractual obligations of the Niger Delta Power Holding Company and the National Integrated Power Project assets, including the Omotosho, Olorunshogo, and Ihovbor power plants, which GAMCO plans to utilise during its pilot phase.
The committee will also evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, as well as determine the fiscal, financial, and market implications of the initiative, including subsidy exposure, market liquidity, and revenue frameworks.
Furthermore, it will determine whether the establishment and operationalisation of GAMCO will require amendments to existing laws, subsidy regulations, or executive directives.
The Chief of Staff to the President will serve as chairman of the committee, while members include the Attorney-General of the Federation and Minister of Justice; the Ministers of Power, Works, and Finance; as well as the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Other members are the Chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke, while the Permanent Secretary of the Cabinet Affairs Office, Dr John Chidiebere Ezeamama, will serve as secretary.
The Grid Asset Management Company Limited aims to recover and optimise stranded power generation using the Benin-Lagos transmission corridor as its pilot phase.
The initiative is expected to address critical power sector challenges through optimisation, mobilisation of private capital, and disciplined asset management, ultimately improving electricity reliability and national competitiveness.
Under the arrangement, the Federal Government will fully own GAMCO as a commercial venture, with shares held by the Ministry of Finance Incorporated.
The company is expected to modernise transmission evacuation starting with the most critical axis within Nigeria’s power system. The Benin-Lagos transmission corridor currently evacuates bulk power supply to Ogun and Lagos states, Nigeria’s largest industrial and commercial centres.
The pilot phase will focus on optimising power output from the Omotosho, Olorunsogo, and Ihovbor National Integrated Power Plants.
Omotosho has an installed capacity of 513 megawatts, Olorunsogo 754 megawatts, and Ihovbor 508 megawatts.
GAMCO projects to recover at least 1,600 megawatts within 18 to 24 months, alongside the development of a new high-capacity 330kV double-circuit transmission line along the same corridor.
If successful, the pilot phase will establish a scalable model that can be extended to additional plants and corridors across the country, forming the backbone of long-term grid stabilisation and expansion.
Currently, significant Federal Government investment in National Integrated Power Project generation assets remains underutilised due to operational inefficiencies and transmission evacuation bottlenecks, resulting in stranded capacity and suboptimal returns on public investment.
GAMCO is expected to unlock the stranded capacity from the selected plants and develop a parallel high-capacity transmission corridor along the Benin-Lagos axis, translating underperforming national assets into reliably delivered megawatts.
Under the proposal, the Niger Delta Power Holding Company will grant GAMCO concession and lease arrangements for the three plants, while the Transmission Company of Nigeria will grant the company the right to develop, finance, and operate a new 330kV double-circuit independent power transmission line along the identified corridor.
The initiative ultimately aims to enhance industrial productivity, safeguard jobs, boost investor confidence, and improve welfare outcomes for Nigerian households in line with the Renewed Hope Agenda of the Tinubu administration.
