By Nchetachi Chukwuajah
President Bola Tinubu has inaugurated an 11-member committee to drive the establishment of the Grid Asset Management Company Limited (GAMCO).
The new initiative, approved recently by the Federal Executive Council, is aimed at addressing Nigeria’s persistent power transmission challenges.
The committee was inaugurated by the Chief of Staff to the President, Femi Gbajabiamila, on Friday, March 6, on behalf of the president.
According to a statement by Bayo Onanuga, the Special Adviser to the President (Information and Strategy), Gbajabiamila said the initiative represents a major reform step in the country’s electricity sector.
He said: “The proposed establishment of GAMCO is one of the revolutionary steps taken by the 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, and in particular, the grid and transmission sector.”
Gbajabiamila further urged members of the committee to remain aligned with the president’s vision and strictly adhere to their mandate.
The committee is chaired by the President’s Chief of Staff. It also includes the Attorney-General of the Federation, ministers of Power, Works, and Finance.
Other members are the ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development and the Minister of State for Petroleum.
Also in the committee are the Chairman of the Nigeria Revenue Service, energy expert Yemi Oke, and the Permanent Secretary of the Cabinet Affairs Office, John Chidiebere Ezeamama, who serves as secretary.
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) on asset ownership, management structures, and regulatory oversight, while identifying areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and existing legal instruments.
Key assets under review include facilities owned by the Niger Delta Power Holding Company and the National Integrated Power Project, particularly the Omotosho, Olorunsogo, and Ihovbor power plants, which are planned for the pilot phase of the project.
The committee will also evaluate the relationship between the proposed company and the Nigerian Electricity Regulatory Commission (NERC), including the fiscal, financial, and market implications of the initiative, such as subsidy exposure, market liquidity, and revenue structures.
Further, it will determine whether the establishment of GAMCO will require amendments to primary legislation, subsidy regulations, or executive directives.
The proposed Grid Asset Management Company Limited will operate as a fully government-owned commercial venture, with shares held through the Ministry of Finance Incorporated.
The initiative is designed to recover and optimise stranded electricity generation capacity using the Benin–Lagos transmission corridor as a pilot phase.
The pilot phase will focus on optimising output from the Omotosho (513MW), Olorunsogo (754MW), and Ihovbor (508MW) plants.
The statement added that the success of the pilot phase would allow the model to be expanded to other power plants and transmission corridors to support long-term grid stabilisation.
According to the government, substantial investments in NIPP generation assets have remained under-optimised due to operational inefficiencies and transmission evacuation constraints, leading to stranded capacity.
The new company will seek to unlock stranded power from the selected plants and develop a parallel high-capacity transmission corridor along the Benin–Lagos axis.
According to 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 allow the development, financing, and operation of a 330KV+ double-circuit transmission line along the corridor.
