President Bola Ahmed Tinubu has inaugurated an 11-member committee tasked with ensuring the smooth establishment of the Grid Asset Management Company Limited (GAMCO), a key initiative designed to optimise Nigeria’s electricity grid and address long-standing challenges in the power sector.
The committee was inaugurated on Friday by the Chief of Staff to the President, Femi Gbajabiamila, following the Federal Executive Council’s approval for the creation of the company earlier in the week.
The proposed GAMCO is expected to provide a quick-fix solution to the persistent problems of stranded power, grid management and transmission inefficiencies across the country’s electricity value chain.
Speaking at the inauguration, Gbajabiamila said the committee’s work is crucial to achieving the administration’s ambitions for Nigeria’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,” he 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, particularly the grid and transmission sector.”
According to the Chief of Staff, the committee will conduct a comprehensive review of existing laws, regulations and policies governing Nigeria’s electricity sector, including generation, transmission, distribution and market operations.
The panel will also examine the implications of the Electricity Reform Laws (2025) on asset ownership, management and regulatory oversight, as well as identify areas of conflict or overlap between the proposed GAMCO framework and existing regulatory structures.
In addition, the committee will assess the legal and ownership status of assets belonging to the Niger Delta Power Holding Company and the National Integrated Power Project, particularly the Omotosho, Olorunsogo and Ihovbor power plants, which have been selected for the pilot phase of the initiative.
The committee is chaired by Gbajabiamila and includes the Attorney-General of the Federation, the Ministers of Power, Works and Finance, as well as representatives from the ministries of Communications and Digital Economy, Science and Technology, Aviation, and the Minister of State for Petroleum.
Others are the Chairman of the Nigeria Revenue Service, energy expert Yemi Oke, while the Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, will serve as secretary.
The Federal Government-owned GAMCO will operate as a commercial venture under the Ministry of Finance Incorporated and is expected to modernise transmission evacuation starting with the critical Benin-Lagos transmission corridor.
The pilot phase will focus on improving power output from the Omotosho, Olorunsogo and Ihovbor power plants, which collectively have an installed capacity exceeding 1,700 megawatts.
According to the government, the project aims to recover at least 1,600 megawatts of stranded power within 18 to 24 months, alongside the construction of a new high-capacity 330KV double-circuit transmission line along the Benin-Lagos corridor.
Officials say the initiative will help unlock underutilised generation assets, improve electricity reliability, boost industrial productivity and strengthen investor confidence in Nigeria’s power sector.
Ultimately, the government says the project aligns with the administration’s Renewed Hope Agenda, aimed at enhancing economic competitiveness and improving the welfare of Nigerian households.