Tinubu inaugurates committee on Grid Asset Management Company

President Bola Tinubu yesterday, inaugurated an 11-member committee to oversee the smooth incorporation of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing persistent challenges in Nigeria’s electricity transmission and grid management.

The committee was constituted following the approval of GAMCO’s establishment by the Federal Executive Council at its meeting on Wednesday.

The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of the President, described the move as a major step towards transforming Nigeria’s power sector, particularly the transmission and grid management segments.

He stated that the establishment of GAMCO represents one of the administration’s revolutionary steps to optimise power generation and improve grid efficiency.

“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr. President and this administration in the all-important power sector,” he said.

Gbajabiamila, who will serve as chairman of the committee, however, urged the committee members to align with the President’s vision and deliver on their mandate.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi; Minister of Power, Adebayo Adelabu; Minister of Works, David Umahi; and Minister of Finance and Coordinating Minister of the Economy, Wale Edun, are among members of the committee.

Also on the committee are the Minister of Communications and Digital Economy, Bosun Tijani; Minister of Science, Technology and Innovation, Uche Geoffrey Nnaji; the Minister of Aviation and Aerospace Development, Festus Keyamo; and the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo.

Energy expert, Prof Yemi Oke, and the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, are also members, while the Permanent Secretary, Cabinet Affairs Office, Dr John Chidiebere Ezeamama, will serve as secretary.

The committee is mandated to review existing laws, regulations, policies and institutional frameworks governing the electricity value chain, including generation, transmission and distribution, while examining the implications of the Electricity Reform Laws.

It will also assess the legal status and contractual obligations of assets under the Niger Delta Power Holding Company and the National Integrated Power Project, including the Omotosho, Olorunsogo and Ihovbor power plants.

GAMCO is expected to recover and optimise stranded electricity generation, using the Benin–Lagos transmission corridor as a pilot phase. The project will focus on improving output from the three NIPP plants—Omotosho (513MW), Olorunsogo (754MW) and Ihovbor (508MW), with a target of recovering at least 1,600MW within 18 to 24 months.

The Federal Government will fully own the company through the Ministry of Finance Incorporated, while the Transmission Company of Nigeria will grant GAMCO rights to develop and operate a new 330kV+ double-circuit transmission line along the corridor.

The initiative is expected to help unlock stranded power, strengthen grid stability, improve electricity reliability and boost industrial productivity in line with the administration’s Renewed Hope Agenda.