President Bola Tinubu has approved the establishment of an 11-member committee to oversee the creation of the Grid Asset Management Company Limited (GAMCO), an initiative aimed at addressing persistent challenges in Nigeria’s electricity transmission and grid management system.
The committee was inaugurated on Friday by the Chief of Staff to the President, Femi Gbajabiamila, acting on behalf of the President.
The formation of the committee followed the approval by the Federal Executive Council (FEC) for the establishment of GAMCO during its meeting earlier in the week.
According to a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the proposed company is expected to provide a quick-fix approach to longstanding problems in the power sector, particularly issues relating to stranded electricity, inefficient grid management and inadequate transmission infrastructure.
Speaking at the inauguration, Gbajabiamila described the committee as critical to achieving the administration’s broader reforms in the power sector.
He explained that the proposed Grid Asset Management Company represents a major step toward transforming Nigeria’s electricity transmission system and improving power supply across the country.
The committee has been tasked with reviewing the legal, regulatory and institutional frameworks governing the electricity industry, including power generation, transmission, distribution and market operations.
It would also examine the implications of the Electricity Reform Laws of 2025, particularly the restructuring of the power sector and its impact on asset ownership, management structures and regulatory oversight.
In addition, the committee is expected to identify areas where the proposed GAMCO framework may conflict or overlap with existing laws and regulations.
Part of its responsibilities would include assessing the legal and ownership status of assets belonging to the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP).
These assets include the Omotosho, Olorunshogo and Ihovbor power plants, which are expected to serve as pilot facilities under the new initiative.
The committee would also evaluate the relationship between GAMCO and the Nigerian Electricity Regulatory Commission (NERC), particularly regarding regulatory responsibilities and oversight.
Furthermore, it would l assess the financial and economic implications of establishing the company, including issues relating to subsidy exposure, market liquidity and revenue frameworks.
The panel is also expected to determine whether the creation and operation of GAMCO will require amendments to existing laws, subsidy policies or executive directives.
The Chief of Staff to the President, Femi Gbajabiamila, would serve as chairman of the committee.
Other members include the Attorney-General of the Federation and Minister of Justice, as well as the ministers responsible for power, works and finance.
Also on the committee are the ministers of communications and digital economy, science, technology and innovation, and aviation and aerospace development.
The Minister of State for Petroleum Resources, the Chairman of the Nigeria Revenue Service and energy expert Yemi Oke are also members of the panel.
The Permanent Secretary in the Cabinet Affairs Office, John Ezeamama, will serve as secretary of the committee.
The proposed Grid Asset Management Company is designed to recover and maximise stranded electricity generation capacity within the country.
The project would l begin with a pilot phase focusing on the Benin-Lagos transmission corridor, which supplies bulk electricity to Ogun and Lagos states, two of Nigeria’s most important industrial and commercial hubs.
Under the plan, GAMCO would focus on optimising the output of three major power plants operated under the National Integrated Power Project.
These include the Omotosho Power Plant with an installed capacity of 513 megawatts, the Olorunsogo plant with 754 megawatts and the Ihovbor plant with 508 megawatts.
Through improved asset management and transmission capacity, the initiative aims to recover at least 1,600 megawatts of electricity within 18 to 24 months.
The project would also involve the construction of a new high-capacity 330-kilovolt double-circuit transmission line along the same corridor to strengthen electricity evacuation and distribution.
According to the proposal, the Federal Government would retain full ownership of GAMCO, with the company operating as a commercial entity.
Its shares would be held by the Ministry of Finance Incorporated.
The Niger Delta Power Holding Company is expected to grant GAMCO concession and lease arrangements for the three pilot power plants.
Similarly, the Transmission Company of Nigeria (TCN) would grant the company the right to develop, finance and operate the new independent transmission line along the Benin-Lagos axis.
The Federal Government believes that the initiative would unlock underutilised power generation assets and improve electricity supply reliability across the country.
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