President Bola Tinubu has inaugurated an 11-member committee to oversee the smooth establishment of the Grid Asset Management Company Limited (GAMCO) as part of efforts to strengthen Nigeria’s power sector.
The committee was constituted following the Federal Executive Council’s approval of GAMCO’s creation at its meeting on Wednesday. The initiative is aimed at addressing persistent challenges in the electricity sector, including stranded power generation, 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, described the initiative as a major step towards transforming Nigeria’s power infrastructure.
According to him, the establishment of GAMCO represents one of the administration’s key reforms designed to optimise power generation, particularly within the grid and transmission segments of the electricity industry.
Gbajabiamila urged committee members to align with the President’s vision and strictly adhere to their mandate in delivering workable solutions for the sector.
The committee is tasked with conducting 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 assess areas where the proposed GAMCO framework may conflict with existing legal and regulatory structures.
In addition, the panel will evaluate 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). These include the Omotosho, Olorunshogo, and Ihovbor power plants, which are expected to serve as the pilot phase for GAMCO operations.
The committee will further review the relationship between GAMCO’s proposed mandate and the statutory functions of the Nigerian Electricity Regulatory Commission (NERC), while also assessing the financial and market implications of the initiative, including issues related to subsidies, market liquidity, and revenue structures.
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, as well as the Ministers of Power, Works, Finance, Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Other members include 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.
GAMCO is expected to focus on recovering and optimising stranded power generation, using the Benin–Lagos transmission corridor as its pilot phase.
The initiative aims to improve electricity reliability by mobilising private capital, strengthening asset management, and modernising transmission infrastructure. The Federal Government will fully own the company as a commercial venture, with shares held by the Ministry of Finance Incorporated.
The pilot phase will concentrate on improving power output from the Omotosho (513MW), Olorunsogo (754MW), and Ihovbor (508MW) power plants.
Through this initiative, GAMCO aims to recover at least 1,600 megawatts of electricity within 18 to 24 months, alongside the construction of a new high-capacity 330kV double-circuit transmission line along the Benin-Lagos corridor.
This corridor supplies bulk electricity to Lagos and Ogun States, Nigeria’s largest industrial and commercial hubs.
If successful, the pilot project will provide a scalable model that can be extended to other plants and transmission corridors nationwide, forming the foundation for long-term grid stability and expansion.
The initiative is also expected to unlock underutilised government investments in NIPP generation assets, which currently suffer from operational inefficiencies and transmission bottlenecks that result in stranded capacity.
Under the proposal, the Niger Delta Power Holding Company will grant GAMCO concession and lease arrangements for the three power plants, while the Transmission Company of Nigeria (TCN) will grant the company rights to develop, finance, and operate a new independent transmission line along the corridor.
Ultimately, the project aims to boost industrial productivity, protect jobs, strengthen investor confidence, and improve electricity supply for Nigerian households in line with the Renewed Hope Agenda of the Tinubu administration.
