President Bola Ahmed Tinubu has inaugurated an 11-member committee tasked with overseeing the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative designed to strengthen Nigeria’s electricity transmission system and unlock stranded power capacity.
The inauguration, held on Friday, followed the approval of GAMCO’s establishment by the Federal Executive Council (FEC) earlier in the week. The new company is expected to address persistent challenges in the country’s electricity sector, particularly issues surrounding grid management, power transmission, and underutilised generation capacity.
The Chief of Staff to the President, Femi Gbajabiamila, who inaugurated the committee on behalf of President Tinubu, described GAMCO as a transformative step toward improving Nigeria’s power infrastructure. According to him, the initiative aligns with the administration’s broader plan to modernise the electricity sector and ensure more efficient power delivery across the country.
Gbajabiamila emphasised that the committee’s work is vital to achieving the government’s goal of strengthening the national grid and improving electricity supply. He urged members of the committee to remain committed to the President’s vision and strictly adhere to the mandate given to them.
As part of its responsibilities, the committee will conduct a comprehensive review of the existing legal and regulatory frameworks governing Nigeria’s electricity value chain.
This includes examining policies and laws affecting power generation, transmission, distribution, and market operations. The review will also assess how the Electricity Reform Laws of 2025 and other regulatory changes affect asset ownership, management structures, and regulatory oversight within the sector.
Additionally, the committee will analyse the legal and operational status of assets owned by the Niger Delta Power Holding Company (NDPHC) and the National Integrated Power Project (NIPP). Particular attention will be given to three major power plants Omotosho, Olorunsogo, and Ihovbor which are expected to serve as the pilot facilities for GAMCO’s initial operations.
The committee will further evaluate how GAMCO’s proposed functions will interact with the statutory responsibilities of the Nigeria Electricity Regulatory Commission (NERC). It will also assess the financial implications of the new company, including potential effects on subsidies, market liquidity, and revenue frameworks within the electricity market.
Beyond regulatory considerations, the panel will determine whether establishing GAMCO requires amendments to existing legislation, subsidy policies, or executive directives.
The committee is chaired by Femi Gbajabiamila, while other members include the Attorney-General of the Federation and Minister of Justice, as well as the Ministers responsible for Power, Works, and Finance.
Additional members include the Ministers of Communications and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, and the Minister of State for Petroleum. The Chairman of the Nigeria Revenue Service and energy expert Professor Yemi Oke are also part of the committee. Dr. John Chidiebere Ezeamama, Permanent Secretary of the Cabinet Affairs Office, will serve as the committee’s secretary.
The newly proposed Grid Asset Management Company Limited (GAMCO) will operate as a government-owned commercial entity, with shares held by the Ministry of Finance Incorporated. Its primary objective is to optimise electricity generation and improve transmission efficiency across key power corridors.
The company will begin operations with a pilot project along the Benin–Lagos transmission corridor, one of Nigeria’s most critical electricity supply routes. This corridor delivers bulk electricity to Ogun and Lagos states, which serve as major industrial and commercial hubs in the country.
During the pilot phase, GAMCO will focus on maximising output from three National Integrated Power Project plants Omotosho, Olorunsogo, and Ihovbor. These facilities have installed capacities of 513 megawatts, 754 megawatts, and 508 megawatts, respectively.
The company aims to recover at least 1,600 megawatts of stranded power within 18 to 24 months. To achieve this goal, GAMCO plans to develop a new high-capacity 330kV double-circuit transmission line along the Benin–Lagos corridor, which will enhance power evacuation and reduce transmission bottlenecks.
Officials say the success of the pilot phase could lead to the expansion of the model to other transmission corridors and power plants nationwide. If implemented successfully, the project could form a long-term framework for stabilising and expanding Nigeria’s electricity grid.
Currently, a significant portion of government investment in NIPP generation assets remains underutilised due to operational inefficiencies and limited transmission capacity. This situation has led to stranded electricity generation and reduced returns on public infrastructure investments.
By unlocking the unused capacity of the selected power plants and improving transmission infrastructure, GAMCO is expected to convert underperforming energy assets into reliable electricity supply for industries and households.
Under the proposed arrangement, the Niger Delta Power Holding Company will grant concession and lease agreements to GAMCO for the three selected plants. Meanwhile, the Transmission Company of Nigeria (TCN) will authorise the new company to develop, finance, and operate an independent high-capacity transmission line along the Benin–Lagos axis.
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The federal government believes that the initiative will help boost industrial productivity, protect jobs, strengthen investor confidence, and improve living standards for Nigerian households. The project also forms part of the broader Renewed Hope Agenda of the Tinubu administration aimed at driving economic growth through improved infrastructure and energy security.