President Bola Tinubu has inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO) as part of efforts to improve Nigeria’s electricity sector.
The committee was constituted following the Federal Executive Council’s approval of the company’s creation at its meeting on Wednesday.
According to a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the initiative is aimed at providing a quick solution to persistent challenges in the power sector, particularly stranded power, grid management, and transmission inefficiencies.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on Friday on behalf of the President, said the body would play a key role in realising the administration’s goals for the power sector.
He described the creation of GAMCO as one of the administration’s major steps toward transforming the electricity industry, particularly the grid and transmission segment.
Gbajabiamila urged members of the committee to align with the President’s vision and remain committed to their mandate.
The committee is expected to review 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 restructuring arrangements on asset ownership, management, and regulatory oversight.
In addition, the committee will assess the legal status, ownership structure, and contractual obligations of assets belonging to the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP), including the Omotosho, Olorunshogo, and Ihovbor power plants, which are expected to serve as pilot projects for GAMCO.
The panel will also evaluate how GAMCO’s mandate will align with the statutory responsibilities of the Nigerian Electricity Regulatory Commission (NERC), as well as examine the fiscal and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.
Furthermore, it will determine whether the establishment and operation of GAMCO will require amendments to existing legislation, subsidy regulations, or executive directives.
The committee is chaired by the Chief of Staff to the President, while members include the Attorney-General of the Federation and Minister of Justice, as well as the ministers of Power, Works, and Finance.
Other members are the ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State for Petroleum, the Chairman of the Nigeria Revenue Service, and energy expert Professor Yemi Oke.
The Permanent Secretary of the Cabinet Affairs Office, John Ezeamama, will serve as the committee’s secretary.
