President Bola Tinubu has officially inaugurated an 11-member committee tasked with establishing the Grid Asset Management Company Limited (GAMCO).
This new government initiative is designed to tackle the systemic issues within Nigeria’s power sector, specifically focusing on transmission bottlenecks and underutilized power generation.
During the inauguration ceremony, Femi Gbajabiamila, who represented the President, described the move as a major step toward structural reform.
He stated:“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr 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,”
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The committee is chaired by the Chief of Staff to the President, Femi Gbajabiamila.
The high-level membership includes:
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Lateef Fagbemi, Attorney-General of the Federation and Minister of Justice
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Adebayo Adelabu, Minister of Power
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Dave Umahi, Minister of Works
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Wale Edun, Minister of Finance and Coordinating Minister of the Economy
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Boseun Tijani, Minister of Communications and Digital Economy
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Uche Nnaji, Minister of Science, Technology and Innovation
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Festus Keyamo, Minister of Aviation and Aerospace Development
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Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil)
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Zacch Adedeji, Chairman of the Nigeria Revenue Service
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Professor Yemi Oke, Energy Expert
Serving as the committee’s secretary is Dr. John Chidiebere Ezeamama, the Permanent Secretary of the Cabinet Affairs Office.
The committee’s primary mandate involves a comprehensive review of the laws and policies governing Nigeria’s electricity value chain, including the Electricity Reform Laws of 2025.
It will focus its initial efforts on the Benin–Lagos transmission corridor, aiming to recover 1,600 MW of stranded power from the Omotosho, Olorunsogo, and Ihovbor plants within the next two years.
An official statement explained the strategic importance of this choice, noting:“The company will modernise transmission evacuation, starting from the most critical axis within Nigeria’s power system. The Benin-Lagos transmission corridor evacuates bulk power supply to Ogun and Lagos states, Nigeria’s largest industrial and commercial centres,”
GAMCO will operate as a commercial venture fully owned by the government, with the Ministry of Finance Incorporated holding the shares.
The project is expected to improve industrial productivity and enhance investor confidence across the country.
