President Bola Tinubu has constituted an 11-member committee to ensure the smooth incorporation of the proposed 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, barely 48 hours after the Federal Executive Council (FEC) approved the establishment of the company at its inaugural meeting in 2026.
Chief of Staff to the President, Hon. Femi Gbajabiamila, was named chairman of the committee, while the Attorney-General of the Federation and Minister of Justice, the Ministers of Power, Works, and Finance are among its members.
Other members include the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum.
Also serving on the committee are 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.
The formation of the committee followed the Federal Executive Council’s approval of the proposal presented by President Tinubu for the establishment of GAMCO as part of broader reforms in the power sector.
In proposing the company, the President is seeking a rapid solution to longstanding problems related to stranded power generation, grid management and transmission inefficiencies in the electricity sector.
Speaking during the inauguration on behalf of the President, Gbajabiamila described the initiative as a major reform aimed at revitalising Nigeria’s power infrastructure.
“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.
He explained that the committee has been mandated to conduct a comprehensive review of existing laws, regulations, policies and institutional frameworks governing Nigeria’s electricity value chain.
This includes examining generation, transmission, distribution and market operations as well as reviewing the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management and regulatory oversight.
According to him, the committee will also identify areas of conflict or inconsistency between the proposed GAMCO framework and existing legal and regulatory instruments.
The panel will assess the legal and contractual status of assets belonging to the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP), including the Omotosho, Olorunsogo and Ihovbor power plants which are expected to form the pilot phase of the project.
It will further evaluate the relationship between GAMCO’s operations and the statutory responsibilities of the Nigerian Electricity Regulatory Commission (NERC), ensuring alignment between both entities.
The committee will also determine the fiscal, financial and market implications of the proposal, including issues relating to subsidies, market liquidity and revenue frameworks.
In addition, members will assess whether the establishment and operation of GAMCO would require amendments to existing legislation, subsidy regulations or executive directives.
The Grid Asset Management Company Limited is designed to recover and optimise stranded power generation capacity, beginning with the Benin–Lagos transmission corridor as its pilot phase.
The corridor supplies bulk electricity to Ogun and Lagos states, two of Nigeria’s largest industrial and commercial hubs.
Under the pilot project, the initiative will focus on optimising power output from the Omotosho, Olorunsogo and Ihovbor National Integrated Power Project plants.
Omotosho has an installed capacity of 513 megawatts, Olorunsogo 754 megawatts and Ihovbor 508 megawatts.
GAMCO is expected 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 same corridor.
The Federal Government will fully own the company as a commercial venture, with its shares held by the Ministry of Finance Incorporated.
Officials say the initiative is expected to improve electricity reliability, enhance industrial productivity, safeguard jobs and strengthen investor confidence in Nigeria’s power sector.
If successful, the model could be expanded to additional power plants and transmission corridors as part of a long-term strategy to stabilise and expand the national grid.
Deji Elumoye in Abuja
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